Memory semiconductor revenue is forecast to reach $837.3 billion by the end of 2026, representing 54% of the projected $1.555 trillion global chip market, according to Gartner. That would be double memory's 27% share in 2025, as artificial-intelligence data centers accelerate demand for high-bandwidth memory (HBM), advanced DRAM and NAND flash. Gartner projects DRAM revenue will rise 246.6% year over year in 2026 and NAND revenue 371.9%, with memory revenue surpassing $1 trillion in 2027 as the overall semiconductor market reaches $1.94 trillion. Samsung Electronics, SK hynix and Micron Technology are central suppliers; SK hynix holds 56.4% of the HBM market, Samsung leads overall DRAM production and Micron is the only major U.S.-based company among the group. Nvidia's memory procurement commitments rose from $119 billion to $279 billion in one quarter, with payments scheduled through 2029. The expansion adds to an already tight market: Bank of America said September spot-market supply fulfillment had fallen below 50% and forecast global DRAM sales growth above 80% in 2027. The same report cited sharp price increases for DRAM and NAND and said Nvidia's roughly 70% fiscal 2027 revenue-growth outlook already assumes memory shortages. Memory makers face the risk that AI spending slows before new, multibillion-dollar fabs are completed, potentially reviving the industry's traditional boom-and-bust cycle.