And if there are eight LPDDR5 SDRAM chips, the question is who is making the 64GB chip for Apple? Samsung currently advertises their largest LPDDR chip at 32GB, Micron at 16GB.
The M4 Max can use four 32GB LPDDR to get the 128GB total RAM.
Apple could have put 16 32GB LPDDR on the M3 Ultra daughter board (that is home to the SoC) but that means doubling up the memory rows on the board. Sounds tricky to me because the PCB will need to route a great many lines in a small space, but I guess that is why Apple has high-paid EEs.