- Q3 2026 global DRAM revenue hit record $200B, up 369% year-over-year, driven by price increases rather than volume growth. - Samsung maintains 38% market share lead; SK Hynix revenue grew over 40% quarter-over-quarter, outpacing market growth. - Commodity DRAM (DDR, LPDDR) revenue growth outpaced HBM; DDR up 500% and LPDDR up 400% year-over-year with record ASPs. > The DRAM market's commodity-driven upcycle reflects structural supply tightness in AI infrastructure, where GPU-to-CPU ratios are narrowing and per-socket DRAM capacity is climbing significantly. > SK Hynix's strong sequential growth and Samsung's HBM4 momentum suggest competitive dynamics will shift as next-generation products emerge, with supply constraints persisting through 2028.