You've got a bit of superfluous characters. And your variables, which are lexically scoped to the block (= invisible outside that block), can have much simpler names.

foreach my $mem (split /;/, $memory_data) {
    my($name,$value) = split /=/, $mem, 2;
    $data{$name} = $value;
}
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I don't think this is that bad.

I've applied sfink's advice, which is my recommendation too.