SoftBank's semiconductor subsidiary Saimemory has formalized a partnership with Intel to commercialize next-generation memory technology aimed at AI and high-performance computing workloads. The companies announced Tuesday they're targeting prototypes by fiscal 2028 (ending March 2028) and commercial production by fiscal 2029.
The joint venture, dubbed the Z-Angle Memory (ZAM) program, develops stacked DRAM as an alternative to High Bandwidth Memory (HBM) - currently dominated by Samsung, SK hynix, and Micron. Saimemory claims the technology will deliver 50% lower power consumption through more efficient wiring while maintaining comparable or better pricing.
Intel brings technology developed under the U.S. Department of Energy's Advanced Memory Technology program. Saimemory, incorporated December 2024, combines this with University of Tokyo patents and research from Japanese academic institutions. Fujitsu and potentially RIKEN are contributing additional technology and funding - the venture has secured ¥8 billion through fiscal 2027.
The real question is whether the timeline holds. Intel's re-entry into memory after years away raises execution risk. The companies promise 2-3x HBM capacity at half the power draw, which would matter significantly for data center operators facing mounting energy costs from AI workloads. Standard DDR4/DDR5 can't match GPU bandwidth requirements, creating dependency on the three HBM suppliers.
Competitors aren't standing still. Samsung is developing 3D stacked DRAM while NEO Semiconductor pursues 3D X-DRAM, both focused on capacity scaling rather than power efficiency. SK hynix continues advancing its HBM roadmap.
What this means in practice: SoftBank gets priority supply for Japanese data centers if the technology ships. Japan gets a potential revival story - the country held 70% of global DRAM market share in the 1980s. Enterprise buyers get a potential fourth supplier for AI memory, assuming the 2029 timeline proves realistic. History suggests caution on semiconductor joint venture timelines, particularly those involving multiple governments and academic institutions.
Worth noting: The announcement bumped SoftBank shares 3.13% and Intel 5% in after-hours trading. The market likes the story. We'll see if the execution matches.