SEPTEMBER 6, 2026·Thesis Review·23 min read
Memory as a capital-allocation constraint
How HBM, DRAM and NAND are rewriting the economics of AI data centers
Topic
#AIInfrastructure
4 items
Research
SEPTEMBER 2, 2026·Cycle Intelligence·9 min read
Enterprise SSD Revenue Doubles to $37.6 Billion. The Bit Number Is Missing.
TrendForce puts top-five enterprise SSD revenue up 103.6% quarter over quarter. The mix shift underneath it is real — but smaller than the headline, and one of its drivers has nothing to do with AI.
SEPTEMBER 2, 2026·Cycle Intelligence·32 min read
Beyond HBM: How the Memory Wall Could Reshape the Memory Cycle Through 2029
From HBM4 and NVHBM to zHBM, HBC, pooled DRAM, HBF, CMX and software-side memory reduction — the investment question is not which architecture wins, but where durable memory economics survive.
AUGUST 28, 2026·Cycle Intelligence·20 min read
When NVIDIA Warns About Rising Memory Costs
What NVIDIA's Q2 FY2027 earnings signal for HBM, DRAM, and NAND — and the assumptions an overly bullish read on memory suppliers would need to get right.