CITIC Securities: Continually optimistic about the growth trend of storage innovation

GateUser-bd883c58 · 2026-03-30T10:23:00+00:00

CITIC Securities research report points out that as AI inference demand surges, the storage industry is facing a long-term transformation, and HBM shortages will continue until 2027. NAND innovation is expected to alleviate the demand pressure for graphics memory, and future storage innovations are worth paying attention to.

GateUser-bd883c58

2026-03-30 10:23:00

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Ask AI · Can NAND innovation solve the HBM shortage crisis?

In this AI Express, a report from China International Securities says that in the Agent AI era, storage capacity is the core driver, propelling the storage industry toward a long-cycle paradigm shift. On the supply-demand side, AI inference drives a sharp surge in Token consumption; KV Cache then increases linearly. A mismatch between the explosion in demand and original equipment manufacturers’ capacity expansions has made stock shortages a constant. It is expected that the supply-demand imbalance of not meeting demand will persist through 2027, with price increases running throughout 2026. In terms of technology, given the extreme scarcity of HBM and DRAM and soaring costs, manufacturers are sharing NAND innovation solutions to help shoulder the pressure from growing demand for memory capacity. China International Securities continues to view the growth trend of storage innovation as promising.

The Daily Economic News

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