Nvidia CEO Says Memory Oversupply Unlikely by 2029, HBM Demand to Persist

At the GTC conference in Berlin on October 22, 2026, Nvidia CEO Jensen Huang said it is unlikely that memory supply will be oversupplied by 2029, and that HBM will continue to be used for years to come.

Huang also noted that Nvidia was the first company to bring LPDDR memory into data centers, claiming the solution offers twice the energy efficiency of other global options. The remarks come after storage chip stocks fell in recent days on concerns about potential oversupply and weak demand. Memory is a core component of Nvidia's AI chips, and price trends directly affect the profit outlook of manufacturers including SK Hynix, Samsung, and Micron.

Before Huang's comments, U.S. tech stocks had dropped amid renewed worries over AI spending and geopolitical tensions, with storage-related names broadly lower. Western Digital, which reported earnings the same day, posted a 55% year-over-year increase in first-quarter net revenue, signaling continued strength in memory chip demand.