Meritz Securities: Astra's Launch Could Be a Key Catalyst for Memory Stock Recovery

Huo Xing Finance reports that on September 7, South Korean investment bank Meritz Securities commented on OpenAI’s new model, GPT-6 Astra, stating that Astra represents significant technological advancement. As news spread of rising GPU rental prices following Astra’s release, it must be understood that a decline in AI token prices does not necessarily shrink or slow the AI hardware TAM. Rather, the emergence of models like Astra may create another inflection point for the AI industry and structurally increase demand for AI. “The stock market in September remains uneasy about high interest rates. Within the Korean market, obstacles persist, including the digestion of downward profit expectations driven by the won’s sharp appreciation ahead of the Q3 earnings preview season. Accumulated positive factors still face headwinds in transforming into a sustained trend. Overall, we maintain a cautious outlook on the market. Nevertheless, we believe investors should not significantly reduce core positions in AI infrastructure stocks centered on memory. Positive catalysts not yet reflected in stock prices are accumulating. While our base case remains cautious until mid-October, we recommend maintaining exposure to upside risks, as the trend led by AI and semiconductor leaders could shift at any time—even before October.”