
While concerns that the AI demand outlook is overblown and players like OpenAI will struggle to meet their commitments regarding GPUs are valid, these are bricks in a Wall of Worry built on a robust demand spike and the foundations of a multi-year memory chip supercycle.
Evidence of the supercycle lies in DRAM chipmaker Samsung’s (OTCMKTS: SSNLF) move to raise prices and Morgan Stanley's price target increase, likely followed by many more in the coming quarters.