AI said ...

Will use SRAM to scale impact MU?

The short answer is no, it will not negatively impact Micron. In fact, the difficulty in scaling SRAM is actually one of the biggest bullish catalysts for Micron's business (specifically HBM).

Here is the breakdown of why "SRAM Scaling" is not a threat to Micron, but rather a driver of their growth.

1. The Problem: The "SRAM Scaling Wall"

SRAM (Static RAM) is the ultra-fast memory built directly onto the processor (CPU/GPU) to store immediate data (Cache).

 

• The Issue: As chips get smaller (3nm, 2nm), logic (computing power) keeps shrinking, but SRAM cells are refusing to shrink at the same rate. This is known in the industry as the "SRAM Scaling Wall".

• The Consequence: Chip designers (like Nvidia and AMD) cannot fit enough SRAM on their chips to keep up with the massive growth in AI model sizes. They are "starved" for memory close to the compute.

2. The Solution: Buy More HBM (Micron's Product)

Because they can't put enough SRAM inside the chip, they are forced to put massive amounts of ultra-fast memory right next to the chip.

• Enter HBM (High Bandwidth Memory): This is exactly what Micron sells. HBM acts as the "next best thing" to SRAM.

• The Impact: The failure of SRAM to scale is effectively forcing AI architects to rely more heavily on HBM to compensate. If SRAM could scale perfectly, Nvidia wouldn't need as much expensive HBM. Since it can't, HBM demand skyrockets.

   

3. The Hierarchy (Why they don't compete)

They serve completely different roles in the "Memory Hierarchy," so one does not replace the other:

• SRAM (L1/L2 Cache): Ultra-fast, tiny capacity, insanely expensive (orders of magnitude more than DRAM). Used for nanosecond calculations.

   

• DRAM/HBM (Micron): Fast, massive capacity, affordable. Used to store the Gigabytes of weights for the AI model.

  • Analogy: SRAM is the wallet in your pocket (fast access, holds little). Micron's DRAM is the bank vault (slower access, holds everything). You can't replace the bank vault with a bigger wallet.

4. The "New" Threat: Custom SRAM (Marvell)

You may have seen headlines about companies like Marvell releasing "Custom 2nm SRAM".

• Reality Check: This is designed to help custom AI accelerators (like those from Google or Amazon) squeeze a little bit more performance out of their chips. It is not a bulk memory replacement.

• Micron's Position: Even these custom chips require external memory (HBM or DDR5) to function. Marvell's advancement helps the processor work better, which actually increases the demand for the accompanying memory bandwidth that Micron supplies.

Summary for Your Investment

Do not worry about SRAM scaling "killing" Micron.

• Bull Case: The harder it is to scale SRAM, the more HBM Micron sells.

• Action: Ignore the noise. The physical limitations of SRAM are the primary reason we are in a "Memory Supercycle" for HBM right now.