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🚨 The chip industry is entering a super cycle. According to the latest market research, this growth wave driven by AI servers and enterprise storage will continue until 2027. The key point is that capacity expansion is far behind the pace of demand release—large-scale new capacity won't be online until 2028, which means the supply and demand imbalance in the next two years will be difficult to improve.

🔥 How hot is the demand? The popularity of AI chips has already exceeded expectations. Not only has high-bandwidth memory (HBM) remained in a high prosperity state, but general DRAM is also starting to explode—whether for AI data centers or traditional servers, procurement demand is booming. Many customers have already started a proactive stockpiling mode, and suppliers are beginning to have the confidence to raise prices.

Numbers speak: storage chip prices on PC and mobile end have increased by 30%-40% month-on-month, with server-grade chips seeing even sharper increases of 40%-60%. The demand for enterprise-level SSDs (solid-state drives) has also surged, and prices are expected to rise another 30%-40% by the end of 2025.

From an investment perspective, leading chip companies in this cycle are expected to benefit from both valuation recovery and profit improvement, which is the core logic behind the rising stock prices of such companies. To understand the growth potential over the next two years, it’s worth paying close attention to the pace of capacity release.