According to TrendForce data, the average price of PC-oriented DDR4 8Gb chips—dominated by Korean memory makers—rose to USD 24 in July, reaching a new high since records began in June 2016. Meanwhile, the average price of 128Gb MLC NAND surpassed USD 30 for the first time, setting a new historical record. AI servers and HBM continue to absorb manufacturing capacity, tightening supply for conventional memory products. DRAM shortages may persist through 2027, while NAND supply conditions are expected to improve in the second half of 2027.
In July, prices for both conventional DRAM and NAND flash memory reached multi-year highs, as AI servers continued to absorb storage production capacity, tightening supply for memory chips used in traditional PCs and consumer electronics. The memory price upcycle has yet to conclude.
According to Yonhap News Agency citing data from DRAMeXchange, a division of TrendForce, the average contract price for the benchmark PC-grade DDR4 8Gb DRAM rose to USD 24 in July, up 14.3% month-over-month—the highest level since records began in June 2016. Meanwhile, the average price for 128Gb MLC NAND climbed to USD 30.05, surpassing the USD 30 mark for the first time.
TrendForce forecasts that demand for AI servers and high-bandwidth memory (HBM) will continue to crowd out conventional DRAM production capacity, potentially sustaining DRAM supply tightness through 2027. In contrast, the NAND market is expected to see gradual supply improvements in the second half of 2027 as new capacity comes online.
DRAM prices have doubled year-to-date, while NAND prices have surged by more than two-fold.
DDR4 prices have accelerated steadily this year. Data show that the average contract price for DDR4 8Gb rose from USD 11.5 in January to USD 24 in July, marking an increase of approximately 109%. Notably, prices jumped rapidly from USD 16 in April to USD 20 in May, and continued to hit record highs in the third quarter.
NAND prices have risen even more sharply. The average price for 128Gb MLC NAND increased from USD 9.46 in January to USD 30.05 in July, representing a cumulative gain of about 218%.
According to data cited by Yonhap News Agency, prices for certain SLC NAND products rose 35% to 51% month-over-month in July, significantly outpacing the 4% to 8% increase observed for MLC NAND. As over a year of sustained price hikes has substantially raised procurement costs, TrendForce notes that downstream customers are beginning to adopt a more cautious purchasing stance.
AI servers continue to 'grab production capacity,' shrinking supply for conventional memory
The core driver behind the current price surge remains on the supply side.
Amid rapidly growing demand for AI servers, memory manufacturers have consistently prioritized allocating production capacity to higher-margin products such as HBM, server DRAM, and high-layer 3D NAND, leading to a continuous contraction in supply for conventional PC DRAM and mature-node NAND.
TrendForce forecasts that server products will continue to absorb DRAM capacity, further tightening the supply of PC DRAM. Although rising laptop prices have begun to dampen end-demand, suppliers still hold the upper hand in price negotiations.
The NAND market exhibits a similar trend. As manufacturers continue to allocate capacity toward enterprise SSDs and higher-layer 3D NAND, supply of legacy NAND products remains tight. Among these, SLC NAND—characterized by low inventory levels—is experiencing the most acute supply-demand imbalance, with its pricing significantly outperforming that of MLC products. SLC NAND is widely used in automotive electronics, networking equipment, and industrial control applications.