#TradFi晒单
$DRAM is driven by AI server and AI Agent demand, with HBM continuously encroaching on ordinary DRAM production capacity. Supply expansion is limited, and contract prices remain in an upward channel. The original manufacturers control production to protect prices; downstream cloud providers proactively place orders for inventory, and industry profitability continues to recover. The sector will fluctuate in line with the semiconductor sector. Please be mindful of the risk of a cyclical reversal caused by subsequent capacity releases.
$DRAM is driven by AI server and AI Agent demand, with HBM continuously encroaching on ordinary DRAM production capacity. Supply expansion is limited, and contract prices remain in an upward channel. The original manufacturers control production to protect prices; downstream cloud providers proactively place orders for inventory, and industry profitability continues to recover. The sector will fluctuate in line with the semiconductor sector. Please be mindful of the risk of a cyclical reversal caused by subsequent capacity releases.