[Semiconductor] 2025 HBM Memory Technology Overview: HBM3E Competition and the Road to HBM4

 

HBM Stack

[Posting: 2025.08.19]

The 2025 HBM market can be summed up with two keywords: HBM3E as the mainstream and HBM4 as the turning point. SK hynix has demonstrated technological leadership with mass production of 12-Hi 36GB and MR-MUF packaging, while preparing for 16-Hi expansion to pursue both higher bandwidth and larger capacity. Samsung is differentiating itself with low-power HBM3E based on HKMG and its I-Cube/H-Cube packaging, whereas Micron has leveraged its 1β node for efficiency and low power, securing adoption in NVIDIA’s H200. Across the board, vendors are achieving 9.2–9.6 Gb/s pin speeds and over 1.2 TB/s bandwidth, with HBM4 aiming for 2 TB/s per stack via a 2,048-bit interface. However, challenges remain, including thermal and yield issues in 16-Hi stacking and limited CoWoS packaging capacity. Ultimately, the HBM race is no longer just about DRAM technology—it is a comprehensive battle of process nodes, packaging, and ecosystem control, shaping the future memory dominance that will define AI semiconductor performance.


2025 HBM Memory Technology Analysis: Version-by-Version Tech Node, Packaging, and Vendor Comparison

Summary:
This article provides a detailed comparison of HBM (High Bandwidth Memory) evolution from HBM2E → HBM3 → HBM3E → HBM4, focusing on tech nodes, stack/package technology, and vendor strategies across Samsung, SK hynix, and Micron. As of 2025, HBM3E (8-Hi/12-Hi/16-Hi) is the mainstream generation, while HBM4 (2,048-bit interface) is entering the early adoption phase. Each vendor differentiates with process nodes—Micron (1β), SK hynix (1b advancing to 1c), and Samsung (1a/1b with HKMG adoption)—and packaging innovations, such as MR-MUF underfill (led by SK hynix) and large-scale interposers (TSMC CoWoS, Samsung I-Cube/H-Cube, Intel EMIB+Foveros).

HBM Generation Roadmap (2025 Overview)

GenerationI/O Speed (per pin)Bus WidthBandwidth per StackTypical StackCapacity per Stack
HBM2E3.2–3.6 Gb/s1024-bit~410–460 GB/s8-Hi / 12-Hi16–24 GB
HBM36.4 Gb/s1024-bit~0.8 TB/s8-Hi / 12-Hi16–24 GB
HBM3E9.2–9.6 Gb/s1024-bit1.2 TB/s+8-Hi / 12-Hi / 16-Hi24 / 36 GB
HBM4~8 Gb/s × 2,048-bit2,048-bit~2 TB/s12-Hi / 16-Hi (expected)48–64 GB

  • HBM3E is today’s focus, delivering >9.2 Gb/s per pin and 24–36GB stacks (Micron, Samsung, SK hynix).

  • HBM4 will double interface width to 2,048 bits, aiming for ~2 TB/s per stack bandwidth.

Vendor-by-Vendor Analysis

SK hynix

  • Process Node: Currently at 1b nm, with 1c nm development announced (2024).

  • Product Strengths: First to mass-produce 12-Hi 36GB HBM3E (9.6 Gb/s) in late 2024; also preparing 16-Hi HBM3E sampling in 2025.

  • Packaging (Stack Assembly): Pioneered MR-MUF (Mass Reflow Molded Underfill), offering better heat dissipation and yield compared to NCF-based underfill.

  • Integration (2.5D): Works mainly through TSMC CoWoS (S/L/R) platforms for Nvidia and AMD GPUs.

Advantages: Lead in stack height (12-Hi, 16-Hi) and underfill technology.
Risks: Scaling challenges in 16-Hi yields and heat management.

Samsung Electronics

  • Process Node: Uses 1a nm (with HKMG) and 1b nm depending on product generation.

  • Product Strengths: Announced 12-Hi 36GB HBM3E (sampling in 2024). Expected to expand into enhanced HBM3E during 2025.

  • Packaging (Stack Assembly): Historically NCF-based, now transitioning to MR-MUF for reliability and manufacturability.

  • Integration (2.5D/3D): Developed I-CubeS/E (silicon interposer and FO-PLP + bridge) and H-Cube (hybrid substrate, >6 HBM support), competing with TSMC CoWoS for high-density packaging.

Advantages: HKMG-based DRAM offers lower power; strong in large-area packaging platforms.
Risks: Customer adoption and MR-MUF transition pace.

Micron Technology

  • Process Node: 1β (1-beta) DRAM, known for power efficiency (30% lower) vs. competitors.

  • Product Strengths:

    • 8-Hi 24GB and 12-Hi 36GB HBM3E stacks with >9.2 Gb/s.

    • Integrated into NVIDIA H200 (Hopper upgrade), giving Micron early traction.

  • Packaging (Stack Assembly): Relies on NCF underfill, but optimized for power and yield.

  • Integration (2.5D): Dependent on TSMC CoWoS for system integration with Nvidia/AMD GPUs.

Advantages: Best-in-class efficiency and early adoption by Nvidia.
Risks: Scaling to 12-Hi/16-Hi may face heat and cost trade-offs compared to MR-MUF rivals.

Tech Node Summary by Generation

  • HBM2E: 1y/1z nm nodes (16Gb dies, 8-Hi/12-Hi).

  • HBM3: 1a/1b nm nodes, mainstream by 2022–23.

  • HBM3E:

    • Micron: 1β (low-power, 24/36GB).

    • SK hynix: 1b nm, moving to 1c nm.

    • Samsung: 1a (with HKMG) + 1b nm mix.

  • HBM4: Expected mix of 1β/1γ/1c depending on vendor; introduces 2,048-bit bus.

Packaging: Stack Assembly vs. System Integration

  1. Stack Assembly

    • NCF (Non-Conductive Film): Traditional method, still used by Samsung/Micron.

    • MR-MUF: Mass reflow molded underfill, pioneered by SK hynix, provides better thermal control and yield for high stacks.

  2. System Integration (with GPU/Accelerator)

    • TSMC CoWoS (S/L/R): Industry standard for Nvidia/AMD, supporting reticle-sized interposers and silicon bridges.

    • Samsung I-Cube/H-Cube: In-house platform for large GPU + HBM designs.

    • Intel EMIB + Foveros: Bridge-based + 3D stacking hybrid (used in HPC accelerators).

Strategic Outlook (2025–2026)

  • HBM4: Doubles bus width (2,048-bit), targeting 2 TB/s bandwidth per stack. Pin speeds may initially match HBM3E (~8 Gb/s) but expected to rise toward >10 Gb/s.

  • Stack Scaling (12-Hi → 16-Hi): Increases capacity but requires breakthroughs in yield, TSV resistance, and thermal design.

  • Packaging Competition: TSMC CoWoS maintains dominance, while Samsung pushes I-CubeE/H-Cube, and Intel offers EMIB/Foveros as alternatives.

Vendor Positioning Summary

VendorNodeKey StackBandwidthUnderfillIntegration
SK hynix1b → 1c12-Hi 36GB (mass production), 16-Hi roadmap9.6 Gb/s, 1.2 TB/s+MR-MUF leaderTSMC CoWoS
Samsung1a (HKMG) + 1b12-Hi 36GB (sampling → production)9.x Gb/sTransitioning to MR-MUFI-CubeS/E, H-Cube
Micron1β8-Hi 24GB, 12-Hi 36GB>9.2 Gb/s, 1.2 TB/s+NCFTSMC CoWoS


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