# Kurnal Insights says DRAM per‑area price exceeds TSMC N2/N3 wafer price

Digest AI · Hardware & Compute · published 2026-09-22T11:12:35Z

Canonical: https://digestai.news/story/kurnal-insights-says-dram-perarea-price-exceeds-tsmc-n2-n3-wafer-price

## Summary

Kurnal Insights observes that a 300‑mm wafer processed with TSMC's N3 technology is priced at $20,000, which works out to about $0.283 per mm², while an N2 wafer is assumed to cost $30,000 or $0.424 per mm². These figures are based on media leaks and represent nominal wafer‑area prices, not the actual cost of usable silicon.

Using an assumed DRAM price of $1.50 per Gb, Kurnal calculates that 1y DRAM (0.219 Gb/mm²) values at $0.329 per mm², 1z DRAM (0.273 Gb/mm²) at $0.410 per mm², and 1b DRAM (0.436 Gb/mm²) at $0.654 per mm² – the latter exceeding the N2 wafer estimate. The article notes that packaging costs, contract pricing, and limited spot‑market data make direct comparisons imperfect, and it cannot state definitively that DRAM makers earn more per wafer than TSMC does for logic chips.

## Key points

- Kurnal estimates N3 wafer at $20,000 ($0.283/mm²) and N2 wafer at $30,000 ($0.424/mm²).
- Assuming $1.50/Gb, 1b DRAM (0.436 Gb/mm²) values at $0.654/mm², higher than N2 wafer price.
- DDR5 eTT spot price on September 21 was $24.80 per chip ($1.55/Gb), valuing 1b DRAM at about $0.676/mm².

## Why it matters

Highlights how AI‑driven demand can make memory silicon generate more revenue per area than cutting‑edge logic, influencing pricing, supply chains, and investment strategies.

## Sources

1. [DRAM is now more expensive than compute chips on per-area basis — AI demand drives memory die value past leading-edge silicon](https://tomshardware.com/pc-components/dram/dram-is-now-more-expensive-than-compute-chips-on-per-area-basis-ai-demand-drives-memory-die-value-past-leading-edge-silicon) (Tom's Hardware, 2026-09-22)

## Cite

Digest AI, "Kurnal Insights says DRAM per‑area price exceeds TSMC N2/N3 wafer price", 22 September 2026, https://digestai.news/story/kurnal-insights-says-dram-perarea-price-exceeds-tsmc-n2-n3-wafer-price

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