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【Midday Deep Dive | AI Cost Breakdown: Storage is "Eating" GPU】
Breaking down the BOM of Blackwell GPU: HBM cost share has surpassed 40%, compared to under 25% in the H100 era, and the next-gen Rubin is expected to break 50%.
The trend is solid: the larger the model, the higher the storage share. GPU companies milk design premiums, while storage firms cash in on hardware materials — only 3 companies globally can produce HBM, raising the barriers.
However, the market gives GPUs a PE ratio of 35-45, while storage is only at 5-10. As cost share rises, valuation multiples shrink; this spread will eventually correct itself.
Tomorrow's NVDA earnings report is crucial, especially for data center revenue and HBM procurement guidance. Historical pattern shows: after NVDA beats, storage stocks tend to rebound more.
On-chain perp 7x24 allows for pre-positioning, no need to wait for the market open.
$BTC $ONDO $ETH
#AlphaRWA #RWA美股 #AI #存储 #On-chain Trading
Breaking down the BOM of Blackwell GPU: HBM cost share has surpassed 40%, compared to under 25% in the H100 era, and the next-gen Rubin is expected to break 50%.
The trend is solid: the larger the model, the higher the storage share. GPU companies milk design premiums, while storage firms cash in on hardware materials — only 3 companies globally can produce HBM, raising the barriers.
However, the market gives GPUs a PE ratio of 35-45, while storage is only at 5-10. As cost share rises, valuation multiples shrink; this spread will eventually correct itself.
Tomorrow's NVDA earnings report is crucial, especially for data center revenue and HBM procurement guidance. Historical pattern shows: after NVDA beats, storage stocks tend to rebound more.
On-chain perp 7x24 allows for pre-positioning, no need to wait for the market open.
$BTC $ONDO $ETH
#AlphaRWA #RWA美股 #AI #存储 #On-chain Trading
Morning Signal Card ⏰
V5 Momentum Engine Top 3:
1️⃣ SNDK 12-Month Momentum +1994%
2️⃣ LITE +1123%
3️⃣ ANET +892%
Top Signal: MU RSI Overbought at 78, be wary of a short-term pullback; AI sector crowding at historical highs.
Key Data:
• Storage Cycle Day 603
• HBM Demand Up 40% YoY, Supply Only Up 6-8%
• Storage Stocks PE 5-10x, NVIDIA 35x
• DDR4 Spot Price Bottom Up 8.8x
• NVDA Earnings Report Countdown 1 Day
On-chain PERP 7x24 Hour Positioning in Storage Stocks, seize the pullback opportunity.
$BTC $ETH $ONDO
#AlphaRWA #RWA美股 #AI #存储 #On-chain Trading
V5 Momentum Engine Top 3:
1️⃣ SNDK 12-Month Momentum +1994%
2️⃣ LITE +1123%
3️⃣ ANET +892%
Top Signal: MU RSI Overbought at 78, be wary of a short-term pullback; AI sector crowding at historical highs.
Key Data:
• Storage Cycle Day 603
• HBM Demand Up 40% YoY, Supply Only Up 6-8%
• Storage Stocks PE 5-10x, NVIDIA 35x
• DDR4 Spot Price Bottom Up 8.8x
• NVDA Earnings Report Countdown 1 Day
On-chain PERP 7x24 Hour Positioning in Storage Stocks, seize the pullback opportunity.
$BTC $ETH $ONDO
#AlphaRWA #RWA美股 #AI #存储 #On-chain Trading
Day 602 of the storage supercycle.
DDR4 has surged 8.8x, and HBM production is sold out until 2027, with storage profit margins at 78%, even higher than TSMC.
Forward PE is only 5-10x.
This is the most undervalued sector in the AI race, no doubt about it.
$BTC $ETH $ONDO
#AlphaRWA #RWA美股 #AI #存储 #on-chain trading
DDR4 has surged 8.8x, and HBM production is sold out until 2027, with storage profit margins at 78%, even higher than TSMC.
Forward PE is only 5-10x.
This is the most undervalued sector in the AI race, no doubt about it.
$BTC $ETH $ONDO
#AlphaRWA #RWA美股 #AI #存储 #on-chain trading
[Midday Deep Dive | Revaluation of Storage Chain] Nvidia's earnings report is impressive, but the real bottleneck for AI lies in storage. HBM3E boasts a gross margin of 78%, far exceeding traditional DRAM at 25%. The storage triopoly controls 95% of capacity, with contracts locked in until 2029.
Data: Each Blackwell GPU requires 192GB of HBM, costing over $3000. HBM demand is projected to grow by 40% annually, while supply only increases by 6-8%, leading to a shortage that will persist until 2028.
Valuation: Storage stocks have a PE ratio of only 5-10x, while Nvidia sits at 35x and AMD at 45x. Both benefit from AI, yet there's a valuation gap of 5-7x. Storage is shifting from a cyclical stock to a growth stock.
On-chain perpetuals allow for 7x24 hour positioning in storage stocks without waiting for US market open.
$BTC $ETH $ONDO
#AlphaRWA #RWA美股 #AI #存储 #On-chain trading
Data: Each Blackwell GPU requires 192GB of HBM, costing over $3000. HBM demand is projected to grow by 40% annually, while supply only increases by 6-8%, leading to a shortage that will persist until 2028.
Valuation: Storage stocks have a PE ratio of only 5-10x, while Nvidia sits at 35x and AMD at 45x. Both benefit from AI, yet there's a valuation gap of 5-7x. Storage is shifting from a cyclical stock to a growth stock.
On-chain perpetuals allow for 7x24 hour positioning in storage stocks without waiting for US market open.
$BTC $ETH $ONDO
#AlphaRWA #RWA美股 #AI #存储 #On-chain trading
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