previous yearsDouble Eleven, is a prime time for computer users to upgrade their equipment and snap up memory sticks and solid-state drives (SSDs).However, on Double Eleven in 2025, not only did consumers fail to wait for good prices, but the products they wanted to buy became more expensive.The discounts offered by the platform and merchants are difficult to match in recent times.storageRapid price increases for products.

This abnormal phenomenon is by no means limited to a short-term fluctuation in the lower reaches of the industrial chain, but a continuousstorageThis is a microcosm of how the entire supply chain, from the original factory to the module factory, has been completely disrupted by the AI wave.Not only end users, but also numerousmobile phoneEnterprises, PC manufacturers, and equipment manufacturers are also facing challenges caused by soaring prices and cyclical misalignment.

Eye of the market storm: The supply chain is completely out of control, and the price increase spreads to every corner

This year's market is no longer a question of "whether it will rise or not", but a question of "how much it will rise" and "what is still rising".The tense atmosphere spreads from the upstream original factory to the downstream terminal.

The original manufacturer has a tough stance and keeps sending price increase letters one after another:Samsung,SK hynix,MicronBig threestorageThe giants are undoubtedly the absolute leaders in this round of price increases.Not only have they sent multiple rounds of formal price increase letters to customers, and they expect DRAM contract prices to increase by more than 30% in the fourth quarter, they have also shown an unprecedented strong stance in negotiations.The original manufacturers have prioritized production capacity for highly profitable HBM (high-bandwidth memory) and server products, and implemented strict quotas on supply to the consumer market, resulting in a frequent situation of "price without market".

Module factories were forced to "shut down" and suspended quotations and order taking:Faced with the crazy trend of "three changes a day" in the price of original chips, the midstream memory module manufacturers (manufacturers that package wafers into memory sticks and SSDs) are in extreme trouble.It is difficult to calculate procurement costs, which has led many module manufacturers to take extreme measures - suspending quotations and even suspending orders.This means that many channel merchants cannot find a stable source of goods if they want to purchase goods, further exacerbating the panic in the market.

The rally is spreading across the board, DDR5 and niche typesstorageNo one is spared:DDR5 joins the skyrocketing ranks: DDR5 memory, which had previously experienced relatively modest growth, has seen a sharp acceleration in growth recently.As PC platforms switch to DDR5 and become mainstream, demand rises rapidly, and original factory production capacity is also eroded by AI, causing the price of DDR5 to start skyrocketing following DDR4.

NOR Flash unexpectedly followed suit:What is even more alarming is that even NOR Flash, which is commonly used instorageDevice startup code, smaller niche storagechipThere is also news of a price increase.This shows that the price increase is no longer limited to the mainstream markets of DRAM and NAND Flash. The shortage of memory chips has become comprehensive and structural, and any alternatives or "safe havens" may be filled.

In-depth traceability: How the tsunami of AI demand is tearing apart the traditional supply chain

this timestorageThe rise across the board is the inevitable result of the failure of traditional supply chain rules under the impact of the huge wave of AI.

AI’s “black hole level” demand swallows up all production capacity:The explosion of generative AI has created a devouringstorageThe “black hole” of productivity.AI servers not only require a huge amount of HBM, but the supporting ordinary DRAM and SSD requirements are also astronomical.To meet the needs of companies like OpenAI,MicrosoftWaiting for orders from giants, the original factory will transfer its advanced process production capacity to HBM almost regardless of cost.The process of producing HBM is complex and occupies a larger wafer area, further squeezing out other storage devices.chipphysical output.

Strategic contraction and control of the supply side:After more than a year of price declines,storageThe giants have a strong incentive to drive price recovery.They regulate supply through continued and strict production cuts, and resolutely maintain price increases even in the fourth quarter, the traditional consumption off-season.The price increase at this time is no longer a response to demand, but a proactive strategic choice aimed at making up for early losses and reserving funds for future AI competitions.

Panic stocking and the bullwhip effect of the supply chain:The mentality of "buying up, not buying down" is fermenting in every link of the industrial chain.mobile phone, PC manufacturers are worried about higher costs and supply cuts in the future, so they conduct "preventive purchases"; module manufacturers and channel dealers are hoarding.This panic was amplified step by step, and when it finally reached the original factory, the demand signal had been severely distorted, forming a typical "bullwhip effect." The inflated demand further strengthened the original factory's determination to raise prices.