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晶圆到晶圆(W2W)或芯片到晶圆(D2W),均通过删除凸点方式减薄厚度。其中W2W
晶圆到晶圆(W2W)或芯片到晶圆(D2W),均通过删除凸点方式减薄厚度。其中W2W
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所属报告:
美光科技-美股公司首次覆盖报告:AI超级周期HBM再启飞跃-240614(53页).pdf
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台积电全球晶圆代工收入市占率节节高升;三星2025Q4因2nm新品出货贡献营收,且自家HBM4使用的logicdie晶圆开始产出,淡化整体产能利用率略降的不利因素
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制程节点,封装键合是原厂技术差异所在,美光产品功耗较低。美光与海力士 HBM3E 基于 1-β制程节点制造,而三星仍基于 1-α节点。同时与业界其他 HBM3 解决方案相比,美光将硅通孔(TSV)数量翻倍,增加 5 倍金属密度以降低热阻。美光 HBM3E 功耗较对手降低 30%,有助于解决堆叠散热问题,后续提升堆叠密度潜力较大。在热压键合技术方面。美光及三星主要采用 TCB(热压合)技术,用非导电薄膜填充微凸点之的间空隙,之后使用热压键合工艺连接两层 Die,海力士独家采用 MR-MUF(大规模回流焊-注塑底填充技术),相比下效率更高,同时采用自己独家研发的液体状 EMC 为主要原材料的底料填,散热性能更好。据 TheElec,三星正在尝试跟进 MUF 技术,在 JEDEC 放宽 HBM 堆叠高度限制,混合键合引入放缓的情况下,美光采取跟进 MUF 还是继续推进混合键合或将是后续跟踪重点。
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美光科技-美股公司首次覆盖报告:AI超级周期HBM再启飞跃-240614(53页).pdf
成分多元,有电子行业多领域的丰富从业经验,对产业链上下游均有较深理解
以DGXH100DGXH200为例的AI服务器在DRAM和NAND规模上均成倍提升
带宽提升迅速,除HBM性能本身提升,封装核心数量也进一步提升:
HBM相比SRAM极具性价比,比DDR及GDDR显著更快,是综合最优选择
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