On July 24, 2026, Micron Technology officially announced that its sixth-generation high-bandwidth memory HBM4E has passed NVIDIA's stringent certification and will be directly used in NVIDIA's next-generation AI accelerator platform. This news quickly ignited the US semiconductor sector, with Micron's after-hours stock price rising over 5% and the Philadelphia Semiconductor Index also climbing. Industry insiders believe that the HBM4E certification marks a new round of technological competition in the AI computing memory arena, and Micron's technological breakthrough in the HBM field is breaking the previous dominance of Samsung and SK Hynix.
Event Review: Micron HBM4E Gets NVIDIA Certification
According to Micron's official statement, HBM4E is Micron's sixth-generation HBM product built on the 1γ node, with a per-stack capacity of up to 64GB and a data transfer rate of 9.2Gbps, an increase of about 30% over the previous generation HBM3E. Micron stated that the memory has passed all compatibility tests and stability verification on NVIDIA's HGX platform, and is expected to begin volume shipments in Q4 2026. NVIDIA CEO Jensen Huang commented in an internal email: "HBM4E will provide critical bandwidth support for next-generation AI training and inference." Analysts pointed out that NVIDIA's selection of Micron as the first supplier of HBM4E sends two signals: first, NVIDIA is trying to reduce dependence on a single supplier; second, Micron has the strength to compete with Korean manufacturers in advanced packaging and DRAM processes.
HBM Memory Competition Landscape Accelerates
In the past few years, the HBM market has long been dominated by two Korean manufacturers, Samsung and SK Hynix. SK Hynix, with its HBM3E, was the first to partner with NVIDIA, with a market share exceeding 60% in 2025. Samsung introduced a 32GB HBM3E sample in early 2026 but failed to fully meet NVIDIA's thermal and energy efficiency requirements. Micron's sudden rise is backed by years of massive investment in HBM R&D. In 2025, Micron's capital expenditure reached $18 billion, a significant portion of which was used to build HBM packaging lines and 1γ process workshops. Technology analysts believe that HBM4E integrates Micron's proprietary "Hybrid Bonding" process, increasing the number of stacked layers from 12 to 16 while reducing power consumption by 15%.
Impact on AI Computing Industry
The delivery cycle of HBM4E coincides with the peak period of global AI data center expansion in 2027. According to IDC, global AI server shipments will exceed 8 million units by 2027, with equivalent demand for HBM memory exceeding 4.5 billion GB. The production ramp of Micron HBM4E will directly alleviate the current "memory wall" bottleneck of AI accelerators. Taking NVIDIA's B300 GPU as an example, a dual HBM4E configuration can increase large model training throughput by over 40% while reducing memory footprint. This move is also expected to indirectly push AMD, Intel, and other manufacturers to accelerate compatibility with the HBM4E standard, benefiting the entire AI computing ecosystem.
US AI Computing Stocks Get a Catalyst
After the announcement, US AI computing concept stocks collectively rose. Besides Micron, AMD, TSMC, Broadcom, and other supply chain stocks saw varying gains. The market generally expects Micron's revenue to increase by $5 billion to $8 billion in 2027 due to this. However, there are also risk warnings: Samsung and SK Hynix plan to launch HBM4E and HBM5 prototypes in Q4 2026 respectively, further intensifying competition. In addition, the yield ramp of HBM4E still takes time, and initial supply may be limited. Investors should monitor Micron's subsequent earnings reports for HBM revenue share and related gross margin guidance.
Investment Practical Guide
For investors focused on US AI computing intelligence, HBM memory is becoming a new main theme after GPUs. Specifically, three types of targets can be tracked: first, HBM leader Micron (MU), recommended valuation based on P/B and discounted free cash flow; second, HBM equipment suppliers such as Applied Materials (AMAT) and KLA (KLAC), benefiting from HBM packaging equipment demand growth; third, HBM material suppliers such as Merck (MRK, Specialty Gas Division), not elaborated due to space constraints. It should be noted that geopolitical risks remain an uncertainty for the HBM industry, such as US export controls on China potentially affecting end demand. Investors are advised to establish dynamic positions and keep an eye on the latest information from NVIDIA's GTC conference and Micron's Investor Day.
Overall, the HBM4E certification event has injected a strong boost into the US semiconductor market in the second half of 2026. The "memory revolution" for AI computing has arrived, and Micron is redefining industry rules with technological breakthroughs. Investors should stay sharp and seize the complete computing investment chain from GPUs to memory.
