HBM4/HBM4E Ramp & AI Demand

HBM sold out through 2027, HBM4 launch with 60% capacity gain, HBM market tripling to $100B by 2028. Nvidia Vera Rubin, Tesla/Google CapEx, and Musk's shoutout confirm demand breadth. Samsung leads HBM4 yields at ~70%; Micron catching up. Samsung and Broadcom announced a $200B pact for HBM4E/HBM5 development. HBM4E debut 2027. New analysis shows hyperscaler bidding asymmetry pressures consumer pricing, with Bayesian probability for device cost increases through 2028. Micron has already booked $1B in HBM4 revenue. Tesla supply confirmed as part of demand breadth.