According to the latest survey conducted by TrendForce, in the third quarter of 2025, the DRAM industry witnessed a remarkable 30.9% quarter-on-quarter (QoQ) increase in revenue, reaching a staggering US$41.4 billion. This growth was primarily fueled by a combination of factors: a rise in contract prices for commodity DRAM, a boost in shipment volumes, and an expansion in the scale of High Bandwidth Memory (HBM) shipments.
Looking ahead to the fourth quarter, the scenario is expected to shift slightly. With original manufacturers generally operating with low inventory levels, the growth rate in shipment bits is projected to decelerate significantly.
On the pricing front, cloud service providers have adopted a flexible stance towards procurement prices. This open attitude is likely to set a precedent, compelling other applications to align their prices upwards to secure a stable supply. Consequently, it is anticipated that contract prices for both advanced and mature process technologies, as well as for various key applications, will experience a sharp increase. Specifically, in the fourth quarter, contract prices for commodity DRAM are forecasted to rise by a substantial 45% to 50% QoQ. When considering the combined impact of commodity DRAM and HBM, the overall contract prices are expected to escalate by an even steeper 50% to 55%.