Many high-capacity NVMe SSDs are now as expensive as gold by weight as shortage intensifies — we ran the numbers, here's what we found

Gold bars
(Image credit: Getty Images)

A keen-eyed Reddit user caught a brainwave while browsing for high-capacity SSDs and was struck with the following thought: with the AI-infused silicon shortages, we've reached the point where NVMe gumstick-style SSDs are more expensive than gold by weight. The thread generated discussion aplenty, so we figured we'd dig into this and look up pricing and weight across a range of models. Spoiler alert: It's very much true for 8 TB drives and quickly heading there for 4 TB models.

We compiled multiple searches from Newegg, Microcenter, Best Buy, and Walmart, collecting over a hundred sample points. The requirements were: NVMe SSDs on a PCIe 4.0 or 5.0 interface, with four terabytes of capacity, sold by the store itself, and in stock. The selection excluded enterprise drives, as those would quickly throw off the math, plus everyone knows they are priced like antimatter anyway.

8 TB SSD prices (USD) (Image credit: Future)

Gold is currently sitting at a shiny $148 per gram, so even picking the lower boundary of SSD weight at 8 grams, that makes your average SSD worth around $1,148. And guess what? The average price for an 8 TB consumer drive is around $1,476, and far higher than that if you want a performance unit instead of just a mass-storage model. So yes, at 8 TB, solid-state drives are indeed pricier than gold. But the story doesn't stop there.

Even 4 TB drives aren't immune to high pricing, with a portion of models now also hitting prices close to the equivalent in gold grams. Interestingly, there's definitely a strong divide between higher-priced units. Bar some exceptions, the majority of the sub-$800 space is made of mass-storage models, indicating that if you want both performance and capacity, be ready to loosen the purse strings.

There's also a divide by manufacturer, too. The upper echelons of the price ranks are filled almost exclusively by Western Digital (Sandisk) models, with relatively few offerings from competitors.

It's hard to read the tea leaves here. A cursory observation would state that WD is pricing itself out of the market, but it may be that WD drives are in high demand, and new stock is coming in at much higher prices. Anyone who's been shopping for SSDs recently certainly has noticed a rising trend overall, and PCPartPicker's price tracker illustrates this.

PCPartPicker - 4 TB NVMe drive pricing trends (Image credit: PCPartPicker)

The graph above for 4 TB drives illustrates the trend very clearly, with an exceedingly sharp rise in the past two months. Also note the much wider distribution in prices (the gray area), potentially illustrating the wave of old-price stock going away.

For now, it's still easy to obtain speedy 4 TB drives around the $600-$800 mark, like the Corsair MP700 Elite or Samsung 9100 Pro. However, our guess is that those offerings are all but guaranteed to dry up really quickly, so if you're on the fence for buying one of them, it's best to pull the trigger right away on one of the best SSDs. And even mass-storage units around $500 like won't last long, either.

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Bruno Ferreira
Contributor
  • vanadiel007
    It's amazing when you think about it.
    Just 1 little trend is enough to have the complete stack of components skyrocket in price and perceived value.
    Reply
  • bit_user
    Some good info on the coming NAND shortage by a former Toms Hardware contributor (now SSD industry insider), in this post:
    https://forums.tomshardware.com/threads/phison-demos-10x-faster-ai-inference-on-consumer-pcs-with-software-and-hardware-combo-that-enables-3x-larger-ai-models-%E2%80%94-nvidia-amd-msi-and-acer.3891806/post-23585414
    Reply
  • dimar
    This is insanity. 2 days ago local Best Buy Canada stores had 530R 1TB at a normal price, and today it's out of stock. I think they just removed the SSDs intentionally.
    Reply
  • JamesJones44
    dimar said:
    This is insanity. 2 days ago local Best Buy Canada stores had 530R 1TB at a normal price, and today it's out of stock. I think they just removed the SSDs intentionally.
    Or a scalper bought them and is listing them on ebay for twice the price. This isn't uncommon, some people make a living looking for price "dislocations" and buy up local stock to reseal at a higher price on reseller platforms.
    Reply
  • DougMcC
    This should have been true already, these items are inherently more useful than gold, and significantly rarer. The only reason gold was higher was market cornering behavior by large government buyers.
    Reply
  • bit_user
    DougMcC said:
    This should have been true already, these items are inherently more useful than gold,
    Gold has lots of industrial and manufacturing applications, due to its corrosion resistance. I'm sure its softness and low melting point are also useful properties, in some cases.

    DougMcC said:
    and significantly rarer.
    Huh? I'm pretty sure there are a lot more NAND chips in the world than gold! If you amassed all of the gold that's been mined to date, it would form a cube only 21.7 meters per side.

    Meanwhile, there are billions of smart phones & tablets in the world. Just about every PC and server has multiple NAND chips in them, as well. Don't forget all the smart devices, memory cards, and USB thumb drive. It's hard for me to see how you can say gold isn't the rarer substance!

    DougMcC said:
    The only reason gold was higher was market cornering behavior by large government buyers.
    Based on what data? Personally, I doubt most of the gold is in government reserves. But, if you have good info to the contrary, do tell.
    Reply