[Morgan Stanley: Google's HBM Demand to Account for 35% of Global Markets in 2027, Almost on Par with Nvidia] According to Jinse Finance, Morgan Stanley predicts a significant shift in global demand for high-bandwidth memory (HBM, high-speed stacked memory used in AI chips) in 2027. Google's TPU is expected to account for 35% of global demand, only slightly lower than Nvidia's 36%, with the two combined reaching 71%. AMD is expected to account for 16%, Amazon AWS for 5%, Creative Electronics customers for approximately 3%, and Microsoft and Meta for approximately 2% each. In terms of chip type, GPUs are expected to account for 52% of HBM demand, while custom AI chips (ASICs) will account for 47%, essentially splitting the market. The HBM configuration per chip is also continuously increasing: the AMD MI500 is expected to have 768GB, the Google TPU v9 for 576GB, and the Nvidia Rubin Ultra for 384GB. This means that HBM demand is shifting from being dominated by Nvidia GPUs to being driven by custom chips from both Nvidia and large cloud vendors, with Google becoming a HBM demander on par with Nvidia in scale. (Jinshi)