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Feb 16
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$133.97
$132.93
-0.8%
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LONG
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Neil Campling
Tech/TMT Analyst
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AI chips (specifically Nvidia's Rubin) use 8-10x more memory than H100s. Hyperscaler capex is $600B, but memory supply is constrained. Spot prices are estimated to be up 60% QoQ. You cannot build a fabrication plant in 3 months. The supply-demand imbalance is structural and worsening. This grants immense pricing power to the memory oligopoly (Micron, SK Hynix, Samsung). South Korea (EWY) is the geographic proxy for this trade. LONG Memory Producers and Korean Equities. Global recession crushing demand for consumer electronics (phones/PCs) which these companies also rely on. |
Bloomberg Markets
'Shared Values' discussed in Munich; RAM Conc...
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