Despite being one of the top manufacturers in the memory and flash storage markets, Samsung has struggled recently in the stock exchange. However, two developments could spell a brighter future.

The Korea Economic Daily reports that Samsung’s HBM3E RAM chips have received the green light from Nvidia for use in its high-performance AI processors. This High Bandwidth Memory (HBM) technology aggregates multiple memory chips to significantly enhance data handling capabilities.

Samsung’s latest HBM3E model had been lagging behind expectations, allowing its rival SK Hynix to monopolize the supply of this essential memory type for Nvidia. Luckily for Samsung, the recent approval shifts the landscape, although it remains to be seen how quickly their order book will fill up.

In an additional boost, a report from Newdaily mentions that Samsung aims to raise the contract prices for its DRAM and flash memory products by up to 30% before the year wraps up.

Micron has likewise indicated a substantial increase in its DRAM prices, while SK Hynix is also hiking its NAND flash pricing by 10%. With all these companies reducing their memory chip output, consumers should brace themselves for higher costs as demand consistently outstrips supply.

Bloomberg noted that current memory prices hover about 20% over initial expectations, signaling a strong recovery in the stock market for Samsung.