Spiralling memory spot prices could trigger 'industry cycle collapse,' report warns — NAND wafer costs surge 25% in a single month

Rising memory spot prices, particularly in NAND flash wafer costs, are causing concern about a potential industry cycle collapse due to the widening gap between supply and demand. In February 2026, prices for DDR5 and 1Tb TLC flash wafers surged significantly, despite a brief slowdown during the Lunar New Year. Contract price forecasts for DRAM and NAND flash have been revised upward, with significant increases expected in the first quarter of 2026. The memory shortage is largely driven by AI infrastructure demands, leading to supply constraints in conventional DRAM and consumer NAND segments.