🚨🚨 HBM4: 8hi + 12hi • HBM supply is currently very unstable. Some customers that need to maintain multiple suppliers are finding themselves in a particularly difficult position. • One memory vendor has put its 8hi sample shipments on hold, apparently due to the situation at another memory vendor. • Some customers are sticking exclusively with 12hi. Others have expanded from 12hi to include 8hi, while some that initially chose 8hi have since added 12hi. • HBM4 inherently favors a memory vendor with strong capabilities across memory, logic, and foundry manufacturing. • With HBM4E, everyone could be competing on a more level playing field, potentially reshaping the competitive landscape. • Either way, HBM is a scarce resource, and suppliers can name their price. But making it also looks incredibly difficult. I’ll share more details on Substack.