Memory will consume 30% of hyperscaler data center spending this year, a 4X increase over 2023 — Nvidia gets preferential supply terms well below standard market rates, says analyst firm

Memory will represent about 30% of hyperscaler capex in calendar year 2026, up from roughly 8% in CY23 and CY24 — nearly a fourfold shift over four years.

DRAM prices are expected to more than double in CY26, with another double-digit ASP increase projected in CY27.

LPDDR5 contract pricing has risen over threefold since Q1 2025; open-market LPDDR5 pricing will likely exceed $10/GB this quarter.

HBM is expected to remain undersupplied through CY27.

Nvidia receives Very Very Preferred (VVP) DRAM pricing well below hyperscaler and market rates, compressing its server cost exposure and affecting market pricing benchmarks; memory is a large part of the roughly $250B incremental hyperscaler spend projected for this calendar year.