Samsung overtakes SK hynix in HBM revenue as HBM4 sales surge in Q3
Samsung Electronics surpassed SK hynix in high-bandwidth memory revenue during Q3 2026, driven by surging sales of its latest HBM4 chips tied to Nvidia's Vera Rubin accelerators.
Samsung's high-bandwidth memory revenue climbed to approximately $8.7 billion in Q3 2026, representing a 33% jump from the prior quarter. This surge allowed the company to overtake its longtime rival SK hynix, which posted estimated HBM sales of $7.6 billion for the same period, an 11% quarter-over-quarter increase.
This marks the first time during the current AI growth cycle that Samsung has out-earned SK hynix in this category. The main engine behind Samsung's performance was HBM4, with demand largely coming from Nvidia's Vera Rubin AI accelerators.
Financial Impact
The memory surge significantly boosted Samsung's broader financials. The company's pre-announced consolidated results for Q3 2026 showed operating profit of KRW 107.4 trillion, or approximately $81 billion. This represents a staggering 782.5% increase from the same quarter a year earlier.
Two forces drove this remarkable jump: rising memory prices across HBM and strong HBM4 sales. Samsung had previously projected that its HBM4 revenue would triple sequentially in Q3, with HBM4 expected to make up more than 60% of its total HBM revenue for the second half of 2026.
Market Shift
Samsung's share of HBM revenue reached 33% in Q2 2026, a substantial climb from earlier readings between 15% and 21%. SK hynix still held a 50% share in Q2, marking a decline for the company that had dominated the category.
Part of Samsung's advantage comes from how HBM4 production is structured, with output tied to long-term agreements with major tech corporations, providing more visibility into future demand.
For SK hynix, 11% sequential growth is healthy in isolation. The problem is relative. When your main rival grows 33% in the same quarter and passes you on revenue, the conversation inevitably shifts from your growth to your lost ground.
Future Competition
The next battleground is already forming as both companies work to qualify HBM4E, a newer variant designed for advanced applications. Key things to watch include Samsung's full Q3 results, whether HBM4 hits the projected share of more than 60% of second-half HBM revenue, and how SK hynix responds on HBM4E.
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