AI TRENDS | SemiAnalysis Forecasts Memory Spending in Nvidia Systems to Exceed 30% by End of 2026

SemiAnalysis said memory’s share of hyperscaler capital expenditures has drawn increased discussion, particularly after Micron Technology reported earnings last week. According to Odaily, some market participants were surprised by how high that share could reach next year. SemiAnalysis said it published an initial view in late February, but many clients disputed its 30% figure. In May, after pricing increases accelerated faster than expected, SemiAnalysis said that when combining DRAM, NAND, and HBM, memory spending within Nvidia systems is expected to exceed 30% by the end of 2026 and surpass 40% in 2027. SemiAnalysis added that it expects this dynamic to be better understood in the coming months.