MSX US Stock Daily Observation: FMS 2026 Storage Summit: HBF Standard Debuts, Samsung, SK hynix, and Micron All Bet on Capacity

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2026-08-07 11:37

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FMS 2026 will be held from August 4–6 in Santa Clara, USA, marking the 21st edition of the world's largest independent storage industry summit. SK hynix and SanDisk jointly released the first standard specification for High Bandwidth Flash (HBF), adding a new tier below HBM; Samsung unveiled BV-NAND with over 400 layers, using wafer bonding technology for the first time to stack vertically; Kioxia, meanwhile, integrated direct-to-chip liquid cooling into an enterprise SSD for the first time, removing constraints from the thermal side.

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Core View: At the 2026 FMS Summit, the three storage giants proposed mutually incompatible solutions to the "AI memory wall," indicating that storage has become a key constraint on AI compute performance, with industry standards not yet converged but capacity already expanding in tandem.
Key Elements:
1. SK hynix and SanDisk jointly released the first standard specification for High Bandwidth Flash (HBF), supporting 8-layer and 16-layer stacking, with a maximum single-device capacity of 512GB, positioned as a new tier below HBM.
2. HBF read bandwidth ranges from 0.4–3.0 TB/s, with the upper limit reaching into the HBM4 range, but based on flash media, latency and write endurance differ from DRAM, and it is officially positioned as an incremental layer rather than a replacement.
3. Samsung introduced V10 BV-NAND with over 400 layers, adopting wafer bonding technology for the first time, while previewing zHBM and zNAND-O concept products that have not yet entered mass production.
4. SK hynix unveiled its 10th-generation 375-layer 4D NAND, with energy efficiency improved 2.5 times over the previous generation; Kioxia's CM10 is the first enterprise SSD combining PCIe 6.0, 332-layer BiCS10, and direct-to-chip liquid cooling.
5. Reportedly, Samsung plans to increase HBM monthly production capacity from approximately 170,000 wafers to around 250,000 wafers, a gain of roughly 47%, targeting completion by end of 2026, with capacity expansion preceding actual demand realization.

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今日观察

FMS 2026 于 8 月 4–6 日在美国圣克拉拉举行，这是全球最大独立存储产业峰会的第 21 届。三家巨头在同一场会上给"AI 内存墙"交出了三份互不兼容的答卷：SK 海力士与闪迪联合发布高带宽闪存（HBF）首个标准规格，在 HBM 之下补出新的一级；三星拿出 400 层以上的 BV-NAND，首次采用晶圆键合工艺往上堆；铠侠则把直接冷板液冷第一次装进企业级 SSD，从散热端解约束。

数据一分钟

• HBF 首个标准规格由 SK 海力士与闪迪通过 OCP 发布，支持 8 层与 16 层堆叠，单颗容量最高 512GB

• HBF 读带宽区间 0.4–3.0 TB/s，上限已进入 HBM4 的带宽区间，但官方定位为 HBM 之下新增的一级，不替代 HBM

• 三星发布 V10 BV-NAND，堆叠 400 层以上，为业界首次采用晶圆键合工艺

• 三星同步预览 zHBM 与 zNAND-O，均处于概念阶段，尚未量产

• SK 海力士发布第 10 代 375 层 4D NAND，能效比较上一代提升 2.5 倍

• 铠侠 CM10 为首款将 PCIe 6.0、332 层 BiCS10 与直接冷板液冷结合的企业级 SSD

• 据报道，三星 HBM 月产能将从约 17 万片晶圆提升至约 25 万片，增幅约 47%，目标 2026 年底达成

MSX View

本届峰会最值得留意的信号不在任何一款具体产品，而在存储在 AI 系统中的位置发生了变化。散热预算从 GPU 一路外溢到 SSD，HBM 之下要新增一级都指向同一件事：存储已经成为了决定算力能否跑满的约束条件。需要提醒的是，HBF 虽然带宽上限已触及 HBM4 区间，但其底层介质仍是闪存，延迟与写入寿命与 DRAM 不在同一量级，官方定位始终是增量层而非替代品，这一点在传播中最容易被放大误读。更需要观察的是，三条路线互不兼容、行业标准远未收敛，三家却已同步把产能押下去。产能决策远早于需求兑现，这正是存储周期的根源。短期看，同步扩产是 AI 需求被三家共同确认的信号；中期看，供给节奏能否与需求对上，才是这轮周期真正的变量。