[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Jukan [@Jukanlosreve](/creator/twitter/Jukanlosreve) on x 22.6K followers Created: 2025-07-22 23:13:50 UTC Asia Tech Marketing Review (JPM) • Recently held meetings with over XX institutional investors during Hong Kong marketing. • Overall interest was concentrated in the order of Memory > Holding Companies > EV Batteries & Materials = Hardware. • Investor confidence in the trend of AI hardware spending has increased compared to three months ago. • Confirmation of increased server build-up due to easing supply chain bottlenecks. • Rising demand confidence as AI use cases and adoption increase, particularly in the U.S. market. • TSMC's performance and outlook reconfirmed strong AI semiconductor demand. • MSFT's CAPEX announcement on July 31st mentioned as a future market catalyst. • In HBM4 price discussions, investors did not sympathize with the bearish view of making excessive price concessions to GPU customers. • Emphasized that the HBM market supply-demand is tight, and logic die costs have significantly increased. • Pointed out that HBM4 supplier certification is still ongoing, leading to high uncertainty. • HBM4 premium expectations have fluctuated, but the market still anticipates a reasonable price premium. X. Regarding SK Hynix • Some investors are concerned that HBM4 margins are lower than HBM3E. • They consider the risk of further margin decline depending on negotiation outcomes. • Mentioned that technological leadership can maintain long-term competitiveness. X. Regarding Samsung Electronics • Interest in HBM4 certification and customer sample plans due to 1cnm DRAM technology improvements. • Noted the possibility of certification results coming out by 1Q26. • Maintained a cautious view due to past failures even after reaching the final certification stage. X. Comparison of Samsung Electronics and SK Hynix Positions • While SK Hynix has been preferred for the long term, recent improvements in Samsung Electronics' 1cnm yield have led to considerations for portfolio adjustment. • Opinions were also raised regarding the possibility of SK Hynix's premium narrowing in the short term. X. General Memory Prices • Feedback that the rising trend in DDR4 prices is likely to be reflected in contract prices starting from 3Q25. • Shared that PC DRAM prices have high volatility. • NAND is expected to stabilize in price due to supply discipline and increased seasonal demand. X. HBM Post-processing • Concerns regarding Hanmi Semiconductor have eased; the opinion is to closely monitor the extension of TCB lifespan and the potential introduction of HCB. X. Hardware and Components • Interest in traditional hardware and consumer cycles was low. • Relatively high interest in AI-centric supply chains (Hanmi Semiconductor, Leeno Industrial). XXXXX engagements  **Related Topics** [coins ai](/topic/coins-ai) [investment](/topic/investment) [hardware](/topic/hardware) [kong](/topic/kong) [hong kong](/topic/hong-kong) [jpm](/topic/jpm) [asia](/topic/asia) [Post Link](https://x.com/Jukanlosreve/status/1947797264870871356)
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Jukan @Jukanlosreve on x 22.6K followers
Created: 2025-07-22 23:13:50 UTC
Asia Tech Marketing Review (JPM)
• Recently held meetings with over XX institutional investors during Hong Kong marketing.
• Overall interest was concentrated in the order of Memory > Holding Companies > EV Batteries & Materials = Hardware.
• Investor confidence in the trend of AI hardware spending has increased compared to three months ago.
• Confirmation of increased server build-up due to easing supply chain bottlenecks.
• Rising demand confidence as AI use cases and adoption increase, particularly in the U.S. market.
• TSMC's performance and outlook reconfirmed strong AI semiconductor demand.
• MSFT's CAPEX announcement on July 31st mentioned as a future market catalyst.
• In HBM4 price discussions, investors did not sympathize with the bearish view of making excessive price concessions to GPU customers.
• Emphasized that the HBM market supply-demand is tight, and logic die costs have significantly increased.
• Pointed out that HBM4 supplier certification is still ongoing, leading to high uncertainty.
• HBM4 premium expectations have fluctuated, but the market still anticipates a reasonable price premium.
X. Regarding SK Hynix
• Some investors are concerned that HBM4 margins are lower than HBM3E.
• They consider the risk of further margin decline depending on negotiation outcomes.
• Mentioned that technological leadership can maintain long-term competitiveness.
X. Regarding Samsung Electronics
• Interest in HBM4 certification and customer sample plans due to 1cnm DRAM technology improvements.
• Noted the possibility of certification results coming out by 1Q26.
• Maintained a cautious view due to past failures even after reaching the final certification stage.
X. Comparison of Samsung Electronics and SK Hynix Positions
• While SK Hynix has been preferred for the long term, recent improvements in Samsung Electronics' 1cnm yield have led to considerations for portfolio adjustment.
• Opinions were also raised regarding the possibility of SK Hynix's premium narrowing in the short term.
X. General Memory Prices
• Feedback that the rising trend in DDR4 prices is likely to be reflected in contract prices starting from 3Q25.
• Shared that PC DRAM prices have high volatility.
• NAND is expected to stabilize in price due to supply discipline and increased seasonal demand.
X. HBM Post-processing
• Concerns regarding Hanmi Semiconductor have eased; the opinion is to closely monitor the extension of TCB lifespan and the potential introduction of HCB.
X. Hardware and Components
• Interest in traditional hardware and consumer cycles was low.
• Relatively high interest in AI-centric supply chains (Hanmi Semiconductor, Leeno Industrial).
XXXXX engagements
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