Previously, storage prices surged significantly, and the market believed that AI would create unlimited demand for HBM, with leading companies like MU and others entering a phase of infinite demand, leading to large-scale reduction in ordinary memory production to focus on HBM.

But DEEPSEEK has emerged again, using optimized algorithms to achieve near-HBM performance with ordinary memory, especially on the inference side.

If ordinary memory enters a major cycle, the downside is that it becomes very easy to engage in price wars, with rapid capacity expansion and increased investment risks. In the short term, it should be manageable. MU/Samsung.