Abstract: Conventional wafer defect analysis relies on offline, closed-world classifiers that fail to detect novel, unseen defect signatures emerging during continuous semiconductor manufacturing. To address this, we propose WaferHDC, an online open-world wafer defect discovery framework based on hyperdimensional computing (HDC). The memory-centric architecture of WaferHDC enables rapid anomaly detection and grouping of recurring failures into compact hypervector representations. This allows the memory space to dynamically scale with new defect modes without retraining a static classifier or archiving entire raw wafer history. WaferHDC first models normal spatial distributions, then dynamically groups recurring failures into persistent defect memory without labels or predefined class counts. It outperforms the strongest online baseline by 13.3 p.p. in adjusted Rand index and 10.5 p.p. in normalized mutual information on the industry-standard WM-811K dataset. These results demonstrate the effectiveness of WaferHDC for continuous and open-world wafer defect analysis.