New York, Jan 26, 2026, 11:33 EST — The regular session is underway.
- Micron shares fell about 2% after a rival unveiled progress in next-gen AI memory chips.
- All eyes on the launch timing and price of HBM4, as Nvidia gears up to unveil its next platform
- Samsung and SK Hynix plan to report earnings later this week, potentially revealing details about HBM4 order volumes
Shares of Micron Technology, Inc. (MU) fell $9.15, or 2.3%, sliding to $390.50 during late-morning trading Monday. The drop followed news that Samsung Electronics is nearing a deal to supply Nvidia with next-generation high-bandwidth memory chips. (Reuters)
Why it matters now: Micron’s surge depends on high-bandwidth memory, or HBM — premium DRAM stacked to boost data transfer speeds next to AI chips. Just a hint that Nvidia could broaden its supplier base might disrupt pricing and market share predictions heading into 2026.
HBM4 marks the next big advance. Traders are zeroed in on which company will deliver first, how quickly volumes will scale, and whether the supply chain will stay tight as Nvidia prepares to roll out its new server platform.
Samsung plans to start producing HBM4 chips as early as next month, targeting Nvidia as a key customer, a source familiar with the matter told Reuters. The insider did not provide details on shipment volumes. Samsung declined to comment, and Nvidia was not immediately available for comment.
Samsung has passed HBM4 qualification tests for both Nvidia and AMD, the Korea Economic Daily reported, with Reuters picking up the news. Shipments to Nvidia could start as early as next month. Both Samsung and SK Hynix will report their fourth-quarter earnings on Thursday, where updates on HBM4 demand are expected. Nvidia CEO Jensen Huang also confirmed that the Vera Rubin platform is now in “full production.”
Analysts were quick to say the headline doesn’t automatically spell trouble for Micron. Jordan Klein of Mizuho TMT highlighted that selling HBM4 to Nvidia “is not a zero-sum game,” stressing that “demand exceeds supply.” (Investing)
Micron is doubling down amid the supply squeeze. Back in December, CEO Sanjay Mehrotra forecast memory markets would remain tight past 2026. At the same time, chief business officer Sumit Sadana said customers still aren’t receiving “100%” of their orders. (Reuters)
Micron, Samsung and SK Hynix hold the bulk of the HBM supply market, leaving few major alternatives. As a result, any setbacks in qualification, yield issues, packaging, or testing can swiftly rattle their stock prices.
Qualification by itself won’t guarantee volume, and ramps might take longer than expected. Should Samsung accelerate its rollout or supply ease later this year, Micron’s pricing power—already solid thanks to AI-driven memory demand—could face headwinds.
Investors are bracing for fresh developments. Samsung and SK Hynix will report Thursday, shedding light on HBM4 orders and production strategies — crucial details that might influence Micron’s stake in Nvidia’s next build cycle.
