SemiAnalysisArticle
Scaling the Memory Wall: The Rise and Roadmap of HBM
Memory bandwidth, not compute, is the binding constraint on inference cost at scale, and this piece maps exactly where that bottleneck is headed. Anyone procuring inference capacity or negotiating with memory vendors should read the HBM4 custom base die section closely, since that's where differentiation and pricing power will concentrate. It's a supply chain story more than an AI story, but it sets the ceiling on what inference will cost in two years.