Taiwan Memory Industry Chain Posts Collective Revenue Gains in May; ADATA and Macronix Hit Single-Month Records
Alina Collins
All four major Taiwanese memory firms more than doubled revenue year-on-year in May, with Adata setting a third consecutive monthly record and Macronix a second — AI data-center demand is driving the entire chain into a rare synchronized boom.
How big are the Adata and Macronix records?
Adata posted May consolidated revenue of NT$12.94 billion (~US$411 million), up 22.6% month-on-month and 210.4% year-on-year — a third straight monthly record.
Macronix reached NT$6.26 billion, up 5.8% MoM and 175.8% YoY, its second consecutive monthly high.
This means → these are not one-off spikes but a staircase pattern of successive highs, signaling downstream demand is still accelerating, not peaking.
What do the year-to-date numbers reveal?
Adata's January-to-May cumulative revenue hit NT$49.61 billion, up 175.8% YoY — already 93% of its full-year 2025 revenue. In plain terms = less than halfway through the year, last year's entire haul is nearly matched.
Macronix's five-month total reached NT$22.64 billion, up 110.9% YoY. April and May alone totaled NT$12.57 billion, exceeding the full first quarter's NT$10.47 billion.
This means → Macronix's Q2 is on track to far surpass Q1, and the growth curve is still steepening.
Why is Adata stacking inventory past NT$50 billion?
Chairman Simon Chen expects NVIDIA's next-gen Vera Rubin platform to require several times the memory of current platforms. He sees global memory staying undersupplied in 2026, with shortages worsening into 2027.
Adata has locked in upstream supply commitments and plans to push inventory value past NT$50 billion by Q3, earmarked for key customers and strategic partners.
In plain terms = Adata is betting memory chips will only get harder to source — stockpiling now to ride the upcycle and capture margin as prices keep climbing.
How is Adata's product mix shifting?
DRAM remains the largest line at 52.9% of May revenue.
SSD-related products (driven by NAND flash) surged to NT$4.73 billion in a single month, up 47% MoM — another record — now accounting for 36.5% of total revenue.
This means → NAND flash prices have risen sharply since Q2, pushing SSDs from a supporting act toward a profit engine rivaling DRAM.
Why are Nanya and Winbond's growth rates even more striking?
Nanya Technology (南亞科) posted May revenue of NT$27.67 billion, up 730.14% YoY; its five-month total reached NT$102.25 billion, up 649.62% YoY.
Winbond (華邦電) reported May revenue of NT$20 billion, up 181.97% YoY; five-month cumulative reached NT$77.5 billion, up 128.58% YoY.
This reflects an entire supply chain — from modules to wafer fabrication — riding a powerful up-cycle, not isolated outperformance by any single company.
What is the common driver behind this synchronized surge?
All four firms posted more than 100% YoY growth in May, pointing to one demand source: accelerating AI data-center buildouts pulling hard on high-capacity, high-bandwidth memory chips.
Chen also expects DRAM and NAND contract prices to rise quarter after quarter. This means → the volume-and-price tailwind shows no inflection point in the near term.
In plain terms = the hotter AI gets, the more memory training and inference consume; the scarcer memory becomes, the higher prices go — and that loop is still accelerating.
Content is for reference only, not financial advice.