Moonshot AI, Kimi K3's biggest beneficiary is memory? Index slightly weak due to geopolitical risk

Summary

Curator Park Myung-suk reviews a mixed US session where AI hardware stocks rebounded but geopolitical risks capped gains. He explains how Moonshot AI's Kimi K3 launch created a computing power crunch, reinforcing memory chip makers as the biggest winners. He highlights specific ideas including memory stocks, optical networking via Lumentum, hyperscaler in-house AI chip efforts, and oversold plays like Iris Energy, EchoStar, and AMC. Oracle's role as an AI sentiment barometer is also discussed amid data center delays.

• US indices ended mixed with AI hardware stocks rebounding, but Iran tensions and oil price spikes limited upside.
• Moonshot AI's Kimi K3 launch overwhelmed its computing capacity, underscoring the computing power bottleneck as the core AI issue.
• Memory chip makers Samsung, SK hynix, and Micron are seen as clear beneficiaries of the ongoing memory capacity demand.
• Barclays upgraded Lumentum to Overweight, citing its optical networking role in AI hardware efficiency.
• Google's 'Frozen V2' chip and Microsoft's AMD partnership show hyperscalers working to overcome compute constraints with in-house efficiency.
• Oracle's project delays and record CDS premiums make it a barometer for US AI investment sentiment.
• Iris Energy and CoreWeave demonstrate that neo-cloud compute demand remains strong, and Meta's entry is validating the market.
• Raymond James upgraded EchoStar to Strong Buy, seeing an oversold space stock with long-term potential tied to SpaceX.
• AMC delivered record earnings with a strong film slate led by the highly anticipated 'Odyssey'.