【Midday Deep Dive｜HBM4 is Here, the Storage Competitive Landscape is Being Redefined】
HBM3E is still in high demand, and HBM4 has already entered production validation. Key changes: bandwidth has doubled to 2TB/s, and single stack capacity has jumped from 24GB to 36GB.
What does this mean? The next-gen GPUs will require the same amount of HBM, but the value is set to rise by over 50%. The BOM (Bill of Materials) share in a single AI chip is approaching 40% from the previous 30%.
Deeper changes: HBM4 introduces a base die, significantly increasing manufacturing complexity. Samsung's yield issues have been exposed multiple times, with only two companies globally capable of stable delivery.
Concentrated supply + expanding demand + rising ASP (Average Selling Price) = the profit margin ceiling hasn't been reached yet. Storage stocks still have a forward PE (Price to Earnings) ratio of only 5-10 times, as the market continues to price growth stocks using cyclical stock logic.
On-chain perp 7x24 positions in storage assets, unrestricted by US stock trading hours.
$NVDAon $BTC $ONDO
#AlphaRWA #RWA美股 #AI #存储 #On-Chain Trading
HBM3E is still in high demand, and HBM4 has already entered production validation. Key changes: bandwidth has doubled to 2TB/s, and single stack capacity has jumped from 24GB to 36GB.
What does this mean? The next-gen GPUs will require the same amount of HBM, but the value is set to rise by over 50%. The BOM (Bill of Materials) share in a single AI chip is approaching 40% from the previous 30%.
Deeper changes: HBM4 introduces a base die, significantly increasing manufacturing complexity. Samsung's yield issues have been exposed multiple times, with only two companies globally capable of stable delivery.
Concentrated supply + expanding demand + rising ASP (Average Selling Price) = the profit margin ceiling hasn't been reached yet. Storage stocks still have a forward PE (Price to Earnings) ratio of only 5-10 times, as the market continues to price growth stocks using cyclical stock logic.
On-chain perp 7x24 positions in storage assets, unrestricted by US stock trading hours.
$NVDAon $BTC $ONDO
#AlphaRWA #RWA美股 #AI #存储 #On-Chain Trading