Driven by the AI computing boom and the ongoing memory market upcycle, the global DRAM industry is experiencing a historic reshaping.
According to the latest market data, ChangXin Memory Technologies (CXMT) saw its revenue surge 716% year over year in Q2 2026. Its market share increased to 7%, allowing it to surpass Nanya Technology and become the world’s fourth-largest DRAM supplier. This marks a major shift in a market that has long been dominated by Samsung, SK hynix, and Micron. Global DRAM Landscape Reshaped: From a Three-Player Market to Four-Way Competition The current global DRAM market ranking has become increasingly clear. Samsung has regained the top position through capacity adjustments, holding 39% of the market share. SK hynix and Micron follow with 26% and 25%, respectively.
Together, the three overseas memory giants still account for around 90% of the global DRAM market, but their long-standing dominance is now facing increasing pressure from Chinese memory manufacturers. CXMT has become the fastest-growing DRAM supplier globally this quarter. Meanwhile, SK hynix has seen its overall market share decline due to HBM pricing strategies and earlier low-price long-term contracts, while Micron is now only one percentage point behind SK hynix, leaving room for a potential ranking change.
With CXMT securing the fourth position, the DRAM industry has entered a new era featuring four major players: Samsung, SK hynix, Micron, and CXMT. At the same time, Nanya Technology also benefited from the industry recovery, with revenue rising 690% year over year, reflecting broad-based improvement across the memory supply chain. Strong Growth Driven by Supply Shifts and Expanding Domestic Demand CXMT’s rapid revenue growth is not simply a result of market timing. It reflects the combined impact of industry recovery, strategic adjustments by global memory leaders, and the advantages of a localized supply chain. To capture the growth opportunities from AI infrastructure, Samsung, SK hynix, and Micron have redirected significant advanced wafer capacity toward high-end HBM products.
As a result, production of mainstream DDR5 server DRAM has been reduced, tightening supply and driving DRAM prices upward. CXMT has successfully leveraged this market opportunity by steadily expanding production capacity and achieving both volume growth and improved pricing. Strong demand from China’s AI servers, PCs, industrial applications, and consumer electronics markets has also supported CXMT’s growth.
With localized delivery capabilities and supply chain advantages, the company has been able to secure increasing numbers of domestic DRAM orders. After consecutive losses in 2023 and 2024, followed by a modest profit in 2025, CXMT achieved a major turnaround in 2026. With improving manufacturing maturity and a recovering memory market, the company entered a stable profitability cycle. Its first-half 2026 revenue reached approximately RMB 110–120 billion, while net profit growth exceeded 22 times year over year. For decades, the global DRAM market was controlled by three overseas companies. Today, Chinese memory manufacturers have successfully created a breakthrough.
The future competition in the memory industry will no longer focus solely on advanced HBM technologies. Control over mainstream DRAM capacity, regional supply chain security, and the ability to serve local markets will become equally important sources of competitive advantage.