Global Semis: SOCAMM2 - Innovative but niche, limited impact on memory interface chip TAM

研报英文原文证据摘录

Global Semis: SOCAMM2 - Innovative but niche, limited impact on memory interface chip TAM

18 June 2026

China and Japan Semiconductors

Global Semis: SOCAMM2 - Innovative but niche, limited impact

on memory interface chip TAM

Nvidia recently released their latest ARM-based server CPU called Vera, in which they used Qingyuan Lin, Ph.D.

+852 2123 2654 a new memory package format called SOCAMM2. As this new package uses much less

qingyuan.lin@bernsteinsg.com memory interface chip content, some investors are concerned that this will reduce the

TAM for Montage/Renesas. We believe the SOCAMM2 format will likely remain niche to

David Dai, CFA Nvidia and thus only bring HSD to LT% impact to the memory interface chip TAM, reiterate

+852 2918 5704

david.dai@bernsteinsg.com Outperform on Montage and Renesas.

Francis Ma SOCAMM is a DRAM package customized for NVIDIA rather than a disruptive new

+852 2123 2626 standard. In Nvidia’s Grace CPU design, they use LPDDR5x instead of DDR5 to reduce

francis.ma@bernsteinsg.com the power consumption. From Grace to Vera, the shift from soldered LPDDR5x to modular

SOCAMM2 provides modularity flexibility and expands the total capacity/bandwidth.

Kai Zhang However, SOCAMM2 advantages are tightly aligned with NVIDIA’s rack-level optimization, +852 2123 2665

kai.zhang@bernsteinsg.com where maximizing performance-per-watt is paramount. Critically, these benefits come

with trade-offs in capacity, bandwidth, and ecosystem maturity compared with MRDIMM,

therefore we expect this solution will remain niche mainly to Nvidia, which we estimated to

only have HSD to LT% in volume in the next few years.

Other high-end ARM-based CPU and x86 server CPU likely will remain using

MRDIMM if they want to enjoy better capacity and bandwidth. NVIDIA’s adoption