Yangtze Memory Technologies Co., Ltd. (YMTC) saw its revenue surge by 445% year-on-year in the first quarter.

The global NAND flash memory market is experiencing an unprecedented boom, and Yangtze Memory Technologies (YMTC) is reaping the biggest benefits. According to a recent Counterpoint report, the global NAND flash memory market size in the first quarter of this year increased 3.5 times year-on-year, reaching $46 billion. This surge is driven by the massive deployment of AI infrastructure. Servers need to store weights and training data, and the NAND usage per AI server is several times that of a regular server. YMTC's revenue in the first quarter surged 445% year-on-year, and its global NAND flash memory market share rose to 13%.

1. Phase I production capacity is nearing its limit.

2. Phase II achieved full production capacity in just two years.

3. Phase III wafer fab construction will begin in Wuhan in the second half of this year.

4. New production lines are producing next-generation high-stack-number flash memory products. At the current pace of expansion, total output this year is expected to surpass SK Hynix and Micron, with its overall scale second only to Samsung and Kioxia.

Over the past six months, driven by the demand for AI computing power, Samsung, SK Hynix, and Micron have all shifted their production capacity towards high-margin HBM and enterprise-grade SSDs, continuously compressing consumer-grade flash memory capacity. As a result, storage chip prices for mobile phones and PCs have risen steadily, with some DDR5 and enterprise-grade NAND contract prices increasing by over 50% in a single quarter. The supply side is limited; AI applications are prioritized, by enterprise-grade applications, naturally leaving limited space for consumer-grade devices.

For users planning to upgrade their SSDs or integrate with new platforms, storage prices are unlikely to ease in the short term. However, from another perspective, Yangtze Memory Technologies Co., Ltd. (YMTC) is one of the few players in the domestic supply chain capable of "reverse-increase" production during a price-increase cycle.