Global Memory Chip Market Hits Record $74.6B in July, UBS Projects DRAM Shortage Through 2028

According to UBS' latest July Memory Chip Monthly Report, the global memory chip market hit a record monthly sales of $74.6 billion in July 2026, up 31.7% month-over-month. DRAM sales reached $48 billion (up 27.7%), while NAND Flash surged to $25.8 billion (up 40.7%), both hitting all-time highs.

UBS forecasts that high-bandwidth memory (HBM) demand will surge 90% to 331 billion Gb in 2026 and grow a further 77% to 587 billion Gb in 2027, driven by accelerating AI infrastructure buildout. The bank projects a structural supply shortage in DRAM and NAND Flash will persist at least through mid-2028, as 2027 demand is expected to grow 36.2% while supply increases only 19.3%.