storage

According to Gate market data, U.S. stocks closed on Thursday with the Dow Jones up 0.13%, the S&P 500 index up 0.65%, and the Nasdaq up 0.8%. Micron Technology rose 4%, SanDisk rose 13.6%, and SK Hynix rose 7%.The Nasdaq China Golden Dragon Index fell 1.85%, Alibaba fell 2%, and JD.com fell 7%.

According to reports from Fast Technology, Changxin Memory's 17nm DDR5 chip yield has surpassed 90%, which is only about 2 percentage points lower than Samsung's same-generation products at 92% to 93%, marking a technical indicator that has entered the global first tier. Several major PC manufacturers have completed certification for Changxin DRAM chips around mid-year and have begun to incorporate them in small batches into certain laptops.The strategies adopted by different brands show significant differences: Dell has completely banned the use of Changxin chips; HP restricts their use to the mainland China market; Acer and ASUS have incorporated them into models aimed at the mainland China and emerging markets. Currently, the impact of Changxin products on the overall market prices of the three major memory giants remains limited, mainly because Samsung, SK Hynix, and Micron are currently more inclined to supply LPDDR5, while Changxin's current strategic focus is on expanding DDR5 shipments. Executives from PC companies have stated that the three major manufacturers hold over 90% of the global DRAM market share, and large-scale adoption must be approached with high caution. Currently, the number and usage of models using Changxin chips are quite limited.

Serenity posted that it remains bullish on the storage sector represented by Micron (MU) and Samsung, believing that the market often rotates between different supply bottlenecks. This week, stocks in the photonics sector, such as AXTI and LITE, have once again become the focus; compared to the decline in July, the main change is the stock price, followed by scattered narratives and business updates.He pointed out that the market was already aware during the July decline that COHR and LITE's laser products would be sold out for the next two years, and it had also learned about the demand imbalance from AAOI's last quarter earnings call. Aside from the changes in stock prices after liquidation, the fundamentals of the photonics sector have not deteriorated; the bottlenecks in optical transceivers and indium phosphide substrates remain unchanged and may even worsen.In terms of storage, Serenity stated that retail investors are showing signs of capitulation, but the same group had previously signed 16 SCAs with MU and had extremely bullish forecasts. He believes that the current operating profit to market value ratio of the storage business is "extremely unreasonable," and that next year's demand imbalance may be even more severe; the only thing that has changed for the same company is the valuation and narrative, while the market rotates between different sectors.

"1011 Insider Whale" agent Garrett Jin released a weekly analysis stating that he previously suggested gradually positioning in storage chips and buying on dips, but the market did not experience the expected pullback. He has sold half of the previously rebounded positions during the surge, not because the investment logic has changed, but because he noticed the funding structure driving the rise, stating, "This is more like a short squeeze rather than a final confirmation of the market fundamentals." Rapid capital replenishment of short positions can create short-term increases in stocks like SK Hynix, but cannot solely support a sustained trend. The risks of Korean leveraged ETFs have not been fully released, but the decline in asset scale mainly comes from net value shrinkage rather than investor exit. Currently, the cumulative net subscription of related financial products remains at historical highs and has not turned negative.Garrett Jin emphasized that the decline in the scale of Korean leveraged ETFs does not indicate a bearish outlook on storage demand. SK Hynix's 2026 capacity is already sold out, and Micron's orders are covered until 2028, with strong demand expected to continue until the second half of 2027. However, the storage industry is essentially a cyclical industry, and stock prices have already risen by hundreds of percentage points in advance. Cyclical stocks are usually difficult to sustain long-term growth through valuation expansion. The current market is entering a new phase of the AI capital expenditure cycle, shifting from "rewarding investment" to "evaluating investment returns." Regarding Bitcoin, Garrett Jin stated that it continues to meet the bottoming conditions since the low in July and maintains the position view established around $60,000.

SpaceX plans to build its own power facilities for the large semiconductor manufacturing plant Terafab being developed in Texas. Riley Trettel, who is responsible for energy and data center development, stated that a gas power plant and a large battery array will be constructed to store energy to meet the surging power demand. Elon Musk's companies have long favored vertical integration, and Tesla is also participating in the energy market in Texas.

According to market news, West Main Self Storage has increased its holdings by 0.155 Bitcoin, currently holding a total of 16.188 BTC.

According to South Korea's Digital Daily, Apple has recently negotiated with Changxin Memory Technologies (CXMT) on the supply prices of mobile DRAM such as LPDDR5X to reduce costs for the next generation of iPhones and smart devices, but was rejected. Changxin Memory insists on maintaining a price level comparable to or even higher than that of Samsung Electronics and SK Hynix, breaking Apple's usual bargaining advantage as an end manufacturer.The report analyzes that Chinese terminal companies such as Huawei and Xiaomi have locked in a large amount of Changxin Memory's production capacity through long-term high-price contracts, providing a solid price defense line in the domestic market. Meanwhile, Samsung Electronics and SK Hynix are facing reduced supply of general DRAM due to the continuous expansion of HBM capacity, combined with Changxin Memory holding the price floor, significantly alleviating the shipping pressure and price decline risks for Korean manufacturers in the general DRAM sector, allowing them to focus resources on high-value AI storage products such as HBM4, LPCAMM2, and eSSD. Industry insiders expect that in the second half of the year, the operating profit margins of the Korean semiconductor camp and global market pricing power will further strengthen.

According to official social media news, Huobi HTX will hold a live debate themed "AI Infrastructure Inflection Point: The Ultimate Divergence of Computing Power Bubble and Storage Supercycle" today at 8 PM. At that time, Cong Ge, Jiezou Xia, Cha Ge, and Zhang Facai will represent the affirmative side, engaging in dialogue with the opposing representatives Xiyu, Chan Ge, Bafang, and Wenle, focusing on the core industry variables under the AI wave, and deeply discussing whether the demand for computing power is overestimated, whether there is a bubble risk in AI infrastructure, and whether the storage industry can usher in a new supercycle.

According to Jinshi, the international credit rating agency Moody's has upgraded SK Hynix's credit rating to the A range for the first time, reflecting the company's enhanced competitiveness in the artificial intelligence storage market, as well as improvements in profitability and cash generation capability.Moody's raised SK Hynix's long-term issuer rating and senior unsecured bond rating by one notch, from "Baa1" to "A3," with a rating outlook maintained at "stable." This is the first time SK Hynix has received a Moody's A rating since it merged into the SK Group in 2012.

Binance co-founder CZ retweeted user Rager's experience about hardware wallet failures on the X platform. CZ stated that protecting the wallet backup seed phrase is a highly challenging task.The seed phrase cannot be seen by others, or it may be copied or exploited, and it must not be accidentally damaged by fire, flood, or other incidents, while also preventing hackers from gaining access. More importantly, users themselves must not lose the seed phrase.

According to The Wall Street Journal, the U.S. market has frequently seen bubbles around specific industries and themes in recent years, but these localized bubbles usually do not drag down the overall stock market when they burst.The current storage chip bubble rapidly inflated and burst within about 4 months, accompanied by severe volatility and a hedge fund falling into crisis, yet the S&P 500 index is only 1.6% away from its historical high, and the equal-weighted S&P 500 index set a new high last week. The pullback in AI-related stocks has also been almost completely offset by gains in other sectors.Over the past decade, the U.S. market has experienced bubbles in 3D printing, Chinese concept stocks, low-volatility products, SPACs, clean energy, cannabis, space, crypto assets, and AI concept stocks. Strategy fell 83% from its peak, Trump Media's stock price dropped 89%, and SK Hynix fell 55% before rebounding last Friday.Loose funding, speculative demand, and expectations for new technologies have driven these bubbles, while margin debt and leveraged ETFs in recent years have further amplified the volatility.These localized bubbles have not caused severe shocks to the economy, mainly because most were not financed by large amounts of debt. After the bubbles burst, the losses were primarily borne by investors, and the banking system did not suffer significant shocks.Macro strategist Russell Napier stated that the banking system remains healthy, so there is always more credit available in the market to create the next round of bubbles.However, AI investments are pushing the market into a more dangerous territory. Data center spending is expected to reach $7 trillion over the next four years, and if the productivity gains from AI are not sufficient to support such a scale of investment, capital misallocation could severely harm the economy.As AI construction increasingly relies on debt financing, if broader AI investments ultimately prove to be a bubble, their burst could impact the financial system, making it difficult for the overall market to remain unaffected.

According to monitoring by Lookonchain, Changxin Storage has now entered its 5th trading day, with the price rising above 8 dollars, currently favoring the bulls in the long-short battle.A certain whale has shorted 2.9 million Changxin Storage shares, worth 23.54 million dollars, currently facing a loss of 4.67 million dollars and has paid 1.42 million dollars in funding fees; another whale has gone long on 1.63 million Changxin Storage shares, worth 13.27 million dollars, currently making a profit of 2.46 million dollars and has received 823,000 dollars in funding fees.

According to Yu Jin monitoring, after a significant rebound in the storage sector tonight, traders who had been continuously shorting Changxin Storage have once again increased their short positions. This trader established their position the day before Changxin Storage's initial public offering and has gone through multiple rounds of increasing their position. Currently, the value of the short position held in Changxin Storage is approximately 22.26 million USD, with an unrealized loss of about 4.06 million USD.

According to Gate market data, the U.S. stock storage sector has seen an expanded increase, with Seagate Technology (STX.O) rising over 17%, SanDisk (SNDK.O) rising 20%, Western Digital (WDC.O) rising 16%, and SK Hynix (SKHY.O) and Micron Technology (MU.O) both rising 11%.

According to Jinshi reports, the Israel Defense Forces launched operations in multiple areas of the Gaza Strip early Wednesday morning, successfully dismantling four Hamas weapon storage facilities.

According to Gate market data, U.S. stocks opened higher, with all three major indexes rising: the Dow Jones increased by 0.6%, the S&P 500 rose by 1%, and the Nasdaq climbed by 1.6%. Microsoft (MSFT.O) surged about 12%, with its cloud business growth in the fourth fiscal quarter far exceeding expectations.The storage sector saw significant gains, with SanDisk (SNDK.O) rising about 11% and SK Hynix (SKHY.O) increasing by about 7%.