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
#DRAM
4 items
Research
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.
SEPTEMBER 1, 2026·Cycle Intelligence·11 min read
The HBM Enablers: What Marvell Reveals About the Next Layer of the Memory Cycle
Starting from Marvell’s latest earnings, this note examines how AI infrastructure enablers, including CXL, pooling, memory offload, and adjacent supply-chain technologies, are reshaping HBM economics and memory intensity.
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.