Bet on bits, not history: why AI broke the old memory valuation cycle
BenBajarin · x · 2026-10-02
Creative Strategies' Ben Bajarin argues the decades-old approach of valuing memory suppliers on price-cycle position now understates the industry: memory revenue is bits × price, bit demand has compounded through every cycle, and AI workloads have shifted the floor. The memory TAM's shape remains unknown. The report also covers Micron Q4 FY26's larger bit base, HPE Networking Day's open AI infrastructure takes, and Synopsys linking agentic EDA to commercial value. Full analysis and rerunnable forecast models are available on the paid CS Atlas portal.
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