Goldman Sachs: Humanoid Robot Per-Unit Memory Value Expected to Reach $600–800

Odaily Planet Daily reported that Paradis posted on platform X, stating that Goldman Sachs indicated memory is expected to account for up to 40% of the semiconductor value in humanoid robots, excluding GPUs and CPUs.

Goldman Sachs noted that while memory configurations may vary, its assumption is that each humanoid robot will carry an average of approximately 128GB of DRAM and about 1TB of NAND flash memory. Based on this assumption, the per-unit serviceable addressable market for DRAM is $250–350, and for NAND it is $350–450, bringing the combined per-unit memory serviceable addressable market to $600–800 or higher.

Given the high edge computing load in humanoid robots, Goldman Sachs expects that at least part of the memory in each system will adopt HBM. HBM is primarily supplied by Micron, Samsung, and SK Hynix, and in the short term, Chinese memory manufacturers, including CXMT, may face limited competition. Whether humanoid robot makers will procure HBM and traditional DRAM separately from different suppliers remains to be seen.

DRAM and NAND memory prices may fluctuate, but Goldman Sachs used approximate market prices at the time of writing in its assumptions, as many long-term agreements have already been signed at that price level.