memory

China's largest flash memory manufacturer Yangtze Memory Technologies last week reported the possibility of delaying its listing, but according to reports, the company is still advancing its initial public offering plan, aiming to be listed on the Shanghai Star Market as early as the first quarter of next year.Bloomberg reported on Wednesday (November 11) citing informed sources that the Wuhan-based Yangtze Memory Technologies is still pushing forward with its listing plan, striving for a listing on the Shanghai Stock Exchange Star Market as early as the first quarter of 2027. Reuters reported on November 4, citing internal memos and informed sources, that Yangtze Memory Technologies' listing plan might be delayed by several months, with expectations for a listing in the first half of next year, depending on market conditions. Bloomberg's latest report indicates that relevant work is still ongoing.Yangtze Memory Technologies entered the next stage of the listing review in September this year, planning to raise 33 billion yuan (approximately 6.3 billion Singapore dollars). The Shanghai Stock Exchange issued the first round of review inquiries to the company in early September, officially launching the listing review process.

Apple's fiscal fourth-quarter results announced on Monday show that the company continues to stockpile inventory, particularly in computer memory. Inventory increased from $11.09 billion in the third quarter to $14.54 billion in the fourth quarter, a quarter-over-quarter increase of 31.1%; year-over-year, it grew 154.3% from $5.72 billion in the fourth quarter of 2025.Apple expects a gross margin of 45% to 46% for the December quarter, primarily affected by higher memory costs, compared to a gross margin of 47.9% in the September quarter. Apple CEO John Ternus stated during the analyst call that current memory pricing is unprecedented. He noted that memory costs in the September quarter were higher than in the June quarter, partially offset by inventory gains and a decrease in some non-memory component costs, and he anticipates that memory costs will rise further in the December quarter.Ternus mentioned that higher costs will be partially offset by price increases on products earlier this year, including price hikes for Mac and iPad at the end of June and for iPhone in September; memory costs will continue to rise after December, and inventory gains will decline over time. To improve supply, manufacturing procurement obligations increased by $33 billion from the June to September quarters. Chief Operating Officer Sabih Khan also attended the call, reiterating the increase in procurement obligations but did not rule out further price increases in the future. Apple attributed weak iPad sales this quarter to supply constraints, with iPad revenue at $6.2 billion, below analyst expectations of $6.7 billion, a year-over-year decline of 10%, while iPhone and Mac sales exceeded expectations.

According to "Du Jia," Tencent has launched the internal testing of "Tencent Cloud Drive," with some features still being iterated, and plans to release an App version. This product focuses on file storage, data management, and AI applications, with a core positioning as a unified memory base for multiple Agents, aiming to connect various AI applications and office tools, unify and carry context, allowing multiple Agents to collaborate based on the same information.Practical tests show that the internal test version retains basic entry points such as the homepage, files, recycle bin, and storage space, with a floating AI assistant panel on the right side. The core highlight of the product is its "connection" capability, supporting binding with Tencent Docs, WorkBuddy, and integrating third-party Agents like DeepSeek Harness and OpenClaw. After authorization, the Cloud Drive AI assistant can read application files, automatically sync updates, and directly call information as a knowledge base for retrieval, summarization, and content generation. The binding page will clearly inform users of the scope of permissions and the rules for AI credit consumption.The report points out that, unlike traditional Cloud Drive AI's document summarization, this system fully connects documents, Cloud Drive files, and Agent workspaces, shifting the Cloud Drive from a file repository to a data memory platform in the AI era.

SK Hynix stated that as AI takes on longer and more complex tasks, driving a surge in computing power and data processing demands, memory requirements will exceed previous expectations.

According to a report by the Korea Economic Daily, KB Securities expects that the combined operating profit of Samsung Electronics and SK Hynix will reach 157.1 trillion won from 2026 to 2027, which is 2.1 times the cumulative operating profit of 74.8 trillion won for both companies from 2000 to 2025. It is estimated that in 2027, the operating profits of Samsung Electronics and SK Hynix will be 55.5 trillion won and 38.9 trillion won, respectively, representing year-on-year growth of 51% and 50%.KB Securities stated that the demand for AI chips is driving a tightening of memory supply, and about 70% to 80% of the memory that both companies plan to produce in 2027 has been secured through long-term supply agreements signed with major global technology companies for five years. The price-to-earnings ratios of both companies have fallen to about 3 times, and the proportion of foreign ownership has dropped to its lowest level since the global financial crisis in 2008. KB Securities believes that the market may be underestimating the long-term profit growth potential.

Market research firm Counterpoint Research data shows that in the third quarter of 2026, major personal computer manufacturers experienced double-digit declines in sales, with HP down 31%, Dell down 25%, Lenovo down 23%, and Apple down 11%. The firm expects that personal computer shipments will decline by another 27% in the fourth quarter, with business demand being better than consumer demand, but not enough to offset the overall contraction.In terms of shipments, Lenovo shipped 15 million units, with a market share of 26.3%; HP shipped 10.3 million units; Dell shipped 7.6 million units; Apple shipped 5.6 million units, with a share of 9.8%, up from 8.7% in the same period last year, as the MacBook Neo alleviated the decline. ASUS saw a shipment decline of 7%.Counterpoint analyst Minsoo Kang stated that rising memory and component costs are pushing up system prices, causing consumers to delay upgrades. David Naranjo mentioned that the industry is undergoing structural adjustments, with component costs, system prices, and longer upgrade cycles reshaping the market. The report also stated that the increase in DRAM and NAND prices may slow down in the first half of 2027, and Micron indicated that the chip shortage may last until 2028.

According to the Science and Technology Innovation Board Daily, Nvidia CEO Jensen Huang stated during a media interview at the GTC conference in Berlin on Thursday that the likelihood of a memory supply surplus by 2029 is low. He mentioned that one great aspect of memory is that there is always more that can be used, and he noted that HBM will continue to be applied in the coming years.Jensen Huang also stated that Nvidia is the first company in the world to introduce LPDDR memory, used in mobile phones, into data centers, which doubles its energy efficiency compared to any current global solution, thus it will continue to use this type of memory extensively. He mentioned last Thursday that customer demand for AI chip orders continues to exceed the company's supply capacity, with new orders pouring in almost weekly, if not daily.In the past week, storage chip stocks faced sell-offs due to market concerns over supply surplus and weak demand. A well-known media outlet in South Korea published a column last week, citing two experts who predicted that by 2029, there will be a significant increase in semiconductor supply, and the storage chip market may turn into a red ocean. On Thursday, the Nasdaq Composite Index closed down 2.6%, at 26008.86 points; SanDisk fell 8.51%, SK Hynix fell 8.07%, Seagate Technology fell 7.86%, Western Digital fell 6.43%, and Micron Technology fell 6.23%.

Micron Technology Vice President Li Zhe stated at the Korea Semiconductor Exhibition SEDEX 2026 held at COEX in Seoul that the company is developing Edge Inference Memory (EIM) for physical AI. The industry expects this product to enter mass production in the second half of 2028. Micron is researching the use of EIM in LPDDR6 to meet the demand for low-power DRAM in applications such as autonomous driving and humanoid robots, and is in discussions with major customers regarding related products.According to a report by the Science and Technology Innovation Board Daily, EIM is positioned between AI chips and memory, utilizing a method of stacking LPDDR on logic chips to process inference data at high speed, although the computing architecture has not been fully disclosed. Li Zhe mentioned that current robotic AI models have about 1 billion to 2 billion parameters, with low bandwidth requirements; however, as more advanced visual language models emerge, LPDDR alone will not suffice, and HBM will eventually be used for humanoid robots. Micron anticipates that future high-performance humanoid robots will require approximately 200 GB of DRAM and 4 TB of storage, while current service robots require about 12 GB of DRAM and 256 GB of storage.Micron CEO Sanjay Mehrotra stated that the storage capacity of a single humanoid robot is about 10 times that of an ordinary L2+ passenger vehicle. The storage industry may enter a period of sustained demand growth for several decades around 2030, driven by the need to synchronize data from hundreds of sensors and run large models locally for millisecond-level control. Counterpoint Research predicts that global DRAM demand for humanoid robots will increase from approximately 8,300 Tbit this year to about 172,000 Tbit by 2030.

Samsung Electronics will adopt TSMC's 3-nanometer process to produce the next generation of custom HBM chip bare dies for NVIDIA. This is the first time Samsung has collaborated with TSMC in the HBM manufacturing stage.NVIDIA has requested Samsung, SK Hynix, and Micron Technology to use TSMC's process to manufacture NVHBM bare dies and to utilize sixth-generation DRAM technology. Samsung plans to continue independently producing standard HBM and custom products for other customers.

On October 13, Tesla CEO Elon Musk stated on social media platform X: Once China masters the manufacturing methods for a certain type of product, its ability to scale production often exceeds that of the rest of the world combined. He cited lithium batteries and solar energy as examples, claiming that China has demonstrated this characteristic in these fields. This statement was in response to a discussion about memory manufacturer Changxin Storage.The poster Melvin believes that Changxin is already a competitor that cannot be ignored, but whether new technology can stably achieve large-scale mass production still depends on yield, cost, and reliability. He also noted that memory demand is still growing, and an increase in production capacity does not mean that the market will immediately experience oversupply. Regarding memory, Musk mentioned that about three years ago, memory was still a low-margin commodity, with LPDDR5 and LPDDR6 designed according to common standards, and China seems to be rapidly solving related technical issues.Musk also pointed out that the new generation of high-bandwidth memory architecture is more difficult to tackle. Another challenge is placing a layer of SRAM beneath the logic chip and stacking RAM in three dimensions above it while addressing the heat dissipation issues of the logic chip. Phoenix Technology cited public information stating that on September 7, Changxin Storage announced that LPDDR6 has entered mass production and was first commercially used in the Xiaomi 18 Fold, with a capacity of 16 GB, compliant with JEDEC's LPDDR6 standard. Subsequently, Changxin announced that its fifth-generation DRAM process platform has achieved mass production and launched two LPDDR5X products based on this platform, aimed at smartphones and portable consumer electronics, with a single bare chip capacity increased by 50% compared to the previous generation of similar products.

According to official news from Aptos, the Aptos mainnet has officially launched the Encrypted Mempool feature. Users can choose to encrypt pending transactions before block finalization, keeping the transaction call functions and input content encrypted before execution, while the sender's address and fee information remain visible to the outside.This feature is mainly aimed at institutions (to avoid exposing intentions of large orders in advance), traders (to reduce MEV arbitrage risks), and AI entities (to ensure transaction inputs remain private before execution).

Changxin Storage (CXMT), a Chinese memory chip company, announced that it has made key progress on a new storage architecture. Samsung Electronics and SK Hynix are also advancing similar architectures to increase storage density. The company's president, Cao Kanyu, stated at an industry event in Shanghai that Changxin Storage plans to launch new server memory products based on this architecture by the end of 2026, according to a company statement.The architecture is designed as 4F², meaning each memory cell occupies an area of 4F², where F is the minimum line width of the semiconductor. The company claims that this proprietary transistor design can improve storage density and efficiency by accommodating more memory cells on a single chip. Currently, mainstream commercial DRAM uses a 6F² cell structure.

Samsung Electronics announced preliminary results for the third quarter, with operating profit soaring 783% year-on-year and increasing 20.01% quarter-on-quarter, slightly exceeding analysts' expectations. The surge in demand for artificial intelligence chips has driven profit growth in the memory business.Samsung expects Q3 operating profit to be 107.4 trillion won (approximately 80.17 billion USD), with revenue of 195 trillion won, a year-on-year increase of 127%.

According to the Korea Economic Daily, Samsung Electronics' next-generation high-bandwidth memory "12-layer HBM4E" product has passed quality verification by Nvidia and major hyperscale data center operators.

Bitcoin Core contributor Peter Todd has joined the MARA Foundation as the chief maintainer of Slipstream. Slipstream is MARA's private Bitcoin mempool service, and the foundation announced this appointment on Thursday. Todd will be responsible for the development and operation of this service.Slipstream allows users to send Bitcoin transactions directly to the MARA Pool without going through the public Bitcoin peer-to-peer network. Since transactions sent via Slipstream remain private before block confirmation, this service helps to conceal key information before confirmation, avoiding the exposure of public keys. The service played a role after hackers exploited a vulnerability in the Coldcard hardware wallet to steal over $115 million in user funds in July this year.MARA's Slipstream first gained attention in 2024 for releasing large Ordinals inscriptions and has recently been used in research projects such as Quantum Safe Bitcoin and Binohash. Todd is a long-time Bitcoin Core contributor, co-author of BIP 125 (replace-by-fee), creator of OpenTimestamps, and launched Libre Relay in 2024. He believes that mempool policies should follow what the market wants miners to package, rather than restricting how people use Bitcoin.

Trader degentrading (@degentradingLSD) pre-market analysis shows the following major signals in the current market:Macroeconomic Level: The 10Y yield has risen to 5.2%, and the 30Y has risen to 5.5%, approaching historical highs; the South Korean stock market opened down 2.5%, with the memory and semiconductor sectors (SK Hynix, Samsung, MU, SNDK) generally down 2% to 5%. It is expected that price movements will continue to fluctuate before MU's earnings report is released.New Cloud Computing: The investment payback period for computing projects is now less than a year, and market perceptions are changing. It is expected that the new cloud sector will undergo rapid revaluation, and the issue of power bottlenecks is also receiving increasing attention.Tech Stocks: META is weak pre-market, focusing on buying at the 690 support level or opportunities for breaking historical highs. If the large-scale data center sector breaks through as a whole, META, MSFT, and others will face paradigm-level repricing.Cryptocurrency Market: Mainstream coins and altcoins are generally weak, with BTC possibly testing the 82K support level; last week, TAO and DOGE were reduced, and CRDO was taken for profit to release risk capital. During the KBW period, crypto sentiment is usually somewhat positive, and this week's strategy focuses on finding short-term bullish opportunities.

According to Slow Fog Security Alert, the AI memory toolchain under MemTensor has been compromised. The open-source long-term memory library MemoryOS (PyPI) aimed at LLM and AI Agent, as well as the official plugin memtensor/memos-cloud-openclaw-plugin (npm) that connects to the OpenClaw runtime, have been implanted with a cross-platform Go binary, which triggers execution when the package is loaded or imported.Affected versions include: MemoryOS==2.34 on PyPI, and npm plugins 0.1.21, 0.1.23, 0.1.25. Among them, the affected npm plugins may also cause user prompt content leakage. Slow Fog recommends taking the following measures: uninstall or downgrade to known safe versions (npm 0.1.20, PyPI 2.33); terminate the sckit process; block related infrastructure; check network activity; and rotate credentials in the affected environment.