--- title: The AI memory cycle is getting longer contracts. description: "The AI memory cycle is getting longer contracts. Capacity expansion remains cautious.\n\nAccording to Korean media:\n▪ Samsung has signed long-term agreements with 10 major customers and is negotiating with 10 more. Its 2027 high-bandwidth memory (HBM) supply is reportedly sold out.\n▪ SK Hynix has agreements with 14 customers covering more than half of its 2027–2028 capacity, backed by upfront deposits.\n\nBut the construction strategy is just as revealing.\n\nBoth companies are reportedly building factory shells early, while adding cleanrooms in phases as they monitor how US tech companies finance their AI spending.\n\nMemory has traditionally been a business of short pricing cycles and sharp swings in supply.\n\nMultiyear commitments and deposits provide greater visibility. They do not eliminate the risks of changing demand, pricing pressure or overcapacity.\n\nA different contract structure. Whether it produces a different cycle remains to be seen.\n\n$SSNLF \n$SKHY\n$MU\n$SNDK\n\nSource: Melvin\n@MelvinInvests" image: https://blog.syzgroup.com/hubfs/1793617379260.jpg --- [![Syz Private banking](https://blog.syzgroup.com/hs-fs/hubfs/Logo.png?width=140&name=Logo.png "Syz Private banking")](https://www.syzgroup.com/fr) ## **Thinking** out loud [Subscribe](https://25733253.hs-sites-eu1.com/newsletter-signup?hsLang=en) [![Contact Us](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2) - [OUR SERVICES](https://www.syzgroup.com/en/private-banking) - [ABOUT SYZ](https://www.syzgroup.com/en/about/welcome-to-syz) - [CAREERS](https://www.syzgroup.com/en/careers) - [PRESS](https://www.syzgroup.com/en/news) - [Blog Homepage](https://blog.syzgroup.com) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thoughts/tag/the-week-in-seven-charts) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Fixed Income Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [Equity Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [CONTACT](https://www.syzgroup.com/en/contact-us/form) - [ENGLISH](https://www.syzgroup.com/) - [FRANÇAIS](https://www.syzgroup.com/fr) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Weekly Fixed Income](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [The week in seven charts](https://blog.syzgroup.com/slow-food-for-thoughts/tag/the-week-in-seven-charts) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [Weekly Equities](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Our Services](https://www.syzgroup.com/en/private-banking) - [About Syz](https://www.syzgroup.com/en/about/welcome-to-syz) - [Careers](https://www.syzgroup.com/en/careers) - [Press](https://www.syzgroup.com/en/news) - [Contact](https://www.syzgroup.com/en/contact-us/form) - [English](https://www.syzgroup.com/) - [Français](https://www.syzgroup.com/fr) ## **Sign-up** for our newsletter This website uses cookies to enhance user navigation and to collect statistical data. You can change your settings below to refuse the use of cookies. For more information, please refer to the [Cookies policy](https://www.syzgroup.com/en/legal-notices). Mandatory cookies Functional cookies Statistics & marketing I confirm I am not a US citizen residing in the US I confirm I am not accessing this site from the US I confirm that I am not a resident of Canada (except for Ontario, Quebec, British Columbia or Alberta). Agree and confirm ### Restricted access We are sorry that for legal reasons we are not able to help US citizens or Canadian residents other than in Ontario, Quebec, or Alberta. Best wishes for the future… ### Restricted access We are sorry that for legal reasons we are not able to help US citizens or Canadian residents other than in Ontario, Quebec, or Alberta. Best wishes for the future… You chose the following profile. If you made a mistake, please change here USA Country Switzerland Canada: Other than Ontario, Quebec, Alberta Canada: Ontario, Quebec or Alberta USA Other country Language Language English French German Italian I confirm Legal information This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. 2 Nov 2026 - - - #### The AI memory cycle is getting longer contracts. The AI memory cycle is getting longer contracts. Capacity expansion remains cautious. According to Korean media: ▪ Samsung has signed long-term agreements with 10 major customers and is negotiating with 10 more. Its 2027 high-bandwidth memory (HBM) supply is reportedly sold out. ▪ SK Hynix has agreements with 14 customers covering more than half of its 2027–2028 capacity, backed by upfront deposits. But the construction strategy is just as revealing. Both companies are reportedly building factory shells early, while adding cleanrooms in phases as they monitor how US tech companies finance their AI spending. Memory has traditionally been a business of short pricing cycles and sharp swings in supply. Multiyear commitments and deposits provide greater visibility. They do not eliminate the risks of changing demand, pricing pressure or overcapacity. A different contract structure. Whether it produces a different cycle remains to be seen. $SSNLF $SKHY $MU $SNDK Source: Melvin @MelvinInvests [#Food for Thought|](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) [#AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) ![The AI memory cycle is getting longer contracts.](https://blog.syzgroup.com/hubfs/1793617379260.jpg) ![The AI memory cycle is getting longer contracts.](https://blog.syzgroup.com/hubfs/1793617379260.jpg) #### Disclaimer This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. Read More ## Related Articles [Technology|](https://blog.syzgroup.com/syz-the-moment/tag/technology) [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) #### [Oracle jumps +14.55% today after the company forecasts $225 billion in revenue by fiscal year 2030.](https://blog.syzgroup.com/syz-the-moment/oracle-jumps-14.55-today-after-the-company-forecasts-225-billion-in-revenue-by-fiscal-year-2030?hsLang=en) Oracle also announced to turn their free cash flow positive, reaching above $30 Billion by 2028. Source: Bull Theory **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 29/10/2026 [AI|](https://blog.syzgroup.com/syz-the-moment/tag/ai) [china](https://blog.syzgroup.com/syz-the-moment/tag/china) #### [The AI bubble has already burst...in China.](https://blog.syzgroup.com/syz-the-moment/the-ai-bubble-has-already-burst...in-china?hsLang=en) The STAR50 is down 45% from its all-time high, vaporising $480 billion in under 4 months. Retail bought the top & AI ran to 42% of China's market cap & 57% of all turnover. The only question: is China just the outlier, or the preview? Source: Nic on X, TradingView **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 29/10/2026 [Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) #### [Fed Chair Warsh on AI and interest rates: "I was skeptical that interest rates would not have an effect on AI. Rates affect almost everything."](https://blog.syzgroup.com/syz-the-moment/fed-chair-warsh-on-ai-and-interest-rates-i-was-skeptical-that-interest-rates-would-not-have-an-effect-on-ai.-rates-affect-almost-everything?hsLang=en) "We're seeing interest rates have an effect on the technology complex." He also noted that credit spreads have widened. Source: Wall St Engine **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 29/10/2026 ## Straight from the Desk # Syz the moment Live feeds, charts, breaking stories, all day long. [Discover more](https://blog.syzgroup.com/syz-the-moment) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. Follow us ## **Thinking** out loud - - - - ## **Investing** with intelligence Our latest research, commentary and market outlooks #### [Weekly Market Update](https://blog.syzgroup.com/fast-food-for-thoughts/tag/weekly-market-update?hsLang=en) #### [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus?hsLang=en) #### [Asset Allocation Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights?hsLang=en) #### [Semi-annual Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/semi-annual-outlook?hsLang=en) - [Contact](https://www.syzgroup.com/en/contact-us/form) - [Terms & conditions](https://www.syzgroup.com/sites/default/files/document/2021-12/001-2_en-general_terms_and_conditions_w.pdf) - [Data protection notice](https://www.syzgroup.com/en/data-protection-notice) - [Cookies policy](https://www.syzgroup.com/en/legal-notices) - [Syzgroup.com](https://www.syzgroup.com/) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Charles-Henry Monchau, CFA, CMT, CAIA", "url" : "https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau" }, "dateModified" : "2026-11-02T15:28:17.698Z", "datePublished" : "2026-11-02T15:28:17.000Z", "headline" : "The AI memory cycle is getting longer contracts.", "image" : [ "https://blog.syzgroup.com/hubfs/1793617379260.jpg" ], "mainEntityOfPage" : { "@id" : "https://blog.syzgroup.com/syz-the-moment/the-ai-memory-cycle-is-getting-longer-contracts", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.syzgroup.com/hubfs/Logo%20(1).png" }, "name" : "Syz Group" } } ```