The HBM Bottleneck: 3 Tech Companies Have Locked Up 85% of the Supply of AI's Scarcest Asset

Key Points Access to high bandwidth memory is becoming a big differentiator in the AI infrastructure market. Locking up deals for HBM supply gives Nvidia, Alphabet, and AMD a big edge. 10 stocks we like better than Nvidia › One of the biggest bottlenecks in the AI infrastructure market is high bandwidth memory (HBM), and according to Morgan Stanley , three companies have locked up 85% of next year's production in advance: Nvidia (NASDAQ: NVDA) , Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) , and Advanced Micro Devices (NASDAQ: AMD) . HBM is a specialized form of DRAM that is frequently packaged with AI accelerators to reduce latency and optimize their performance.