摩根士丹利：H20 限制对内存的影响

April 16, 2025 10:19 AM GMT 2% downside on HBM TAM estimates. Our US semiconductor team has revised down NVDA datacenter revenue by ~US$5.9bn from the April to October quarter, which would imply around 456K H20 at an ASP of US$13K. Each H20 uses 96GB HBM3 at ASP US$1.4/Gb. This would imply a ~US$490mn revenue impact on HBM suppliers in the upcoming quarters and 2% downside to our 2025e HBM TAM estimate. S. Korea Technology | Asia Pacific Morgan Stanley Asia Limited+ H20 Restrictions Impact On Memory What's ...