Middle Eastern sovereign AI investors, including those in Saudi Arabia, have initiated mid- to long-term memory procurement discussions with Korean manufacturers, driving upward pressure on server DRAM spot prices. Spot prices for 64GB DDR5 server DRAM products have surged to $3,100–$3,400 since mid-July, approximately 146% above the end-June contract price of around $1,380. Consequently, server DRAM contract prices in Q3 2026 are projected to rise by more than the market’s current expectation of approximately 15% QoQ.
Sovereign AI capital is directly driving server DRAM spot prices up 146%, forcing contract prices higher and tightening memory supply for all buyers.