Advanced Packaging & HBM

AI accelerator output is constrained by a coupled memory-and-packaging system. HBM stacks require advanced DRAM processes and through-silicon-via assembly; logic and memory then need high-density 2.5D or 3D integration, large substrates, fine-pitch bonding, thermal materials, inspection, and final test. A shortage or yield problem in one layer can strand capacity elsewhere.

The directory separates HBM manufacturers, foundry integration, OSAT capacity, assembly equipment, inspection and test, substrates and interposers, and materials. This avoids treating every semiconductor company as equivalent and makes visible diversified suppliers whose current theme revenue may be small but whose process position is difficult to replace.

Scores belong to the Advanced Packaging & HBM membership, not to a generic semiconductor identity. Revenue exposure is left undisclosed unless a company reports it; estimates must be explicitly labeled. The full directory records source maturity, thesis, invalidation risk, and the next evidence needed to distinguish durable scarcity from a cyclical capacity build.