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Nvidia (NVDA) Selects Samsung and SK Hynix as Exclusive HBM4 Partners, Micron (MU) Left Out

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MU Stock Card

Key Takeaways

  • Nvidia has selected Samsung and SK Hynix as exclusive HBM4 memory providers for Vera Rubin, its next-generation AI accelerator
  • Micron is excluded from the Vera Rubin supply agreement, causing MU shares to decline 6.74%
  • Samsung successfully completed Nvidia’s HBM4 qualification at both 10 Gbps and 11 Gbps speeds; SK Hynix continues testing at 11 Gbps
  • SK Hynix is projected to deliver more than 50% of Nvidia’s HBM requirements in 2026; Samsung’s portion increases to 28%
  • Manufacturing is scheduled to commence in March, with Vera Rubin’s market debut planned for late 2026

Nvidia has designated Samsung and SK Hynix as the sole providers of sixth-generation high-bandwidth memory (HBM4) for the Vera Rubin AI accelerator platform, the Korea Economic Daily reports. Notably absent from this arrangement is Micron, which previously served as an important HBM partner.

The announcement triggered a 6.74% decline in Micron shares. Samsung’s Korea-listed stock fell 7.81%, while SK Hynix dropped 9.52%. Nvidia experienced a 3.01% pullback.


MU Stock Card
Micron Technology, Inc., MU

Vera Rubin represents Nvidia’s upcoming flagship AI platform, set to replace the current Blackwell architecture. The complete NVL72 rack setup combines 72 Rubin GPUs with 36 Vera CPUs and achieves 10x superior performance-per-watt compared to Blackwell.

Micron isn’t completely excluded from Nvidia’s roadmap. The company will provide HBM4 for Rubin CPX, a mid-range inference-oriented accelerator within the Rubin family. However, it won’t participate in the flagship Vera Rubin offering.

Samsung received approval after successfully meeting Nvidia’s stringent quality standards at 10 Gbps and 11 Gbps performance levels. SK Hynix continues validation efforts for the 11 Gbps specification but maintains its position as the largest HBM supplier globally.

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SK Hynix Maintains Dominance, Samsung Expands Market Position

SK Hynix is anticipated to control approximately 50% of worldwide HBM production in 2026, a slight decrease from 59% in 2025. Samsung’s market share is expected to expand to 28%, rising from 20% the previous year.

SK Hynix is forecast to deliver over half of Nvidia’s combined HBM requirements — encompassing HBM3E — throughout 2026, and will likely lead HBM4 volume for Vera Rubin.

Both manufacturers are set to initiate HBM4 production this month. Vera Rubin remains on schedule for a second-half 2026 release.

Vera Rubin’s Target Applications

The Vera Rubin platform targets large-scale AI training and inference workloads, particularly the mixture-of-experts (MoE) architectures increasingly adopted in cutting-edge AI development.

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Reported prospective customers include Microsoft, Amazon, Oracle, and Google. These cloud hyperscalers have been Nvidia’s primary customers in recent cycles.

The Vera Rubin NVL72 consumes twice the power of Blackwell while delivering significantly improved efficiency per watt, a critical factor for data center operators deploying these systems at massive scale.

HBM4 provides greater memory bandwidth than earlier generations, addressing one of the primary constraints in training and operating large-scale AI models.

Wall Street sentiment toward Nvidia remains optimistic. According to TipRanks, NVDA holds a Strong Buy consensus from 39 analysts, with one Hold rating. The average price target of $272.16 suggests approximately 53% potential upside from current trading levels.

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Over the trailing 12 months, Nvidia stock has appreciated 66.2%, despite Monday’s decline following the supplier announcement.

Samsung and SK Hynix are preparing to launch HBM4 production in March 2026, with Vera Rubin systems expected to ship during the second half of that year.

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Crypto World

Coinbase Launches Perpetual Futures Contracts in Europe

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Coinbase Launches Perpetual Futures Contracts in Europe

Cryptocurrency exchange Coinbase has launched new futures offerings in Europe, expanding its push to give users access to both crypto and traditional market exposure through regulated products.

Coinbase said Monday the contracts are being rolled out to Coinbase Advanced users in 26 European countries, including Germany, France and the Netherlands, through its Markets in Financial Instruments Directive, or MiFID, entity.

The new lineup includes crypto futures tied to assets such as Bitcoin (BTC) and Solana (SOL), along with an equity-index product called the Mag7 + Crypto Equity Index Futures. Coinbase said that contract combines exposure to the so-called Magnificent Seven stocks of Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla, with crypto-linked equities and BlackRock iShares exchange-traded funds tied to BTC and Ether (ETH).

Coinbase Mag7 + Crypto Equity Index composition. Source: Coinbase

The exchange said it has launched two types of cash-settled futures contracts, including perpetual-style futures with five-year expiries and dated contracts with specific monthly or quarterly expiries. Traders can access up to 10x leverage on select crypto-denominated contracts and equity indices and up to 5x leverage on other products, with fees as low as 0.02% per contract.

ESMA warns crypto perpetual derivatives may fall under CFD rules

The launch comes about two weeks after the European Securities and Markets Authority warned firms that many derivatives marketed as perpetual futures or perpetual contracts are likely to fall under existing national product intervention measures for contracts for difference (CFDs).

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In a Feb. 24 statement, ESMA said products that meet the CFD definition are subject to leverage limits, mandatory risk warnings, margin close-out rules, negative balance protection and a ban on monetary and nonmonetary benefits. The regulator also told firms to identify, prevent or manage conflicts of interest tied to those offerings.

Coinbase also announced expanded access to its decentralized exchange (DEX) trading platform to 84 countries on Friday.

Related: Crypto exchanges gain as tokenized commodity market climbs to $7.7B

Coinbase doubles down on “everything exchange” ambitions

Coinbase called the derivatives rollout a “major step” in its ambition to build an “exchange for everything,” where users can trade all major global assets under a single platform.

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“As regulatory clarity continues to mature across Europe and globally, we are looking forward to continuing to introduce new and expanded services,” Coinbase said in the announcement.

Other cryptocurrency exchanges that launched regulated perpetual contracts in Europe include One Trading, Kraken, Backpack and Gemini.

Cointelegraph reached out to Coinbase for comment, but had not received a response by publication.

Related: Binance completes $1B Bitcoin conversion for SAFU emergency fund

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