ChainThink reports that, according to Nomura Securities' latest report, the core issue in the global storage industry remains a severe supply shortage, with AI-driven structural demand growth yet to peak.
The report suggests that recent market concerns about oversupply have been significantly amplified, potentially creating a valuation reevaluation opportunity for the storage sector.
The report states that the conversion of semiconductor investments into actual production capacity is a lengthy process, and South Korea’s 480-trillion-won investment plan will take at least 5 to 10 years to gradually build up capacity.
Meanwhile, high-margin HBM is squeezing capacity for general-purpose memory, further exacerbating supply constraints in the industry. Nomura Securities also noted that Meta’s decision does not indicate a weakening in AI hardware demand.
In contrast, under the current backdrop of insufficient computing power supply, the price of single tokens is trending upward; Meta's entry into the computing power market is expected to help stabilize token prices downward.