The transition from application-layer AI speculation to foundation model infrastructure necessitates a defensive rotation into companies with structural moats around data access and switching costs. Multiple independent sources identify a critical supply-demand imbalance in high-bandwidth memory (HBM) that will persist for 2-3 years, creating margin compression across the semiconductor ecosystem while simultaneously driving vertical integration strategies among hyperscalers and defense contracto...
Alpha Clusters
Memory Bottleneck Monetization
Industry-wide memory chip shortage lasting 2-3 years creates margin compression across semiconductors while enabling Micron to monetize HBM transition for AI workloads. The supply-demand imbalance represents a structural shift favoring memory specialists over commodity chip manufacturers.
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