Core Viewpoint - The demand for NAND Flash is experiencing a surge due to the ongoing application of AI technology, which is driving cloud service providers to seek high-performance TLCeSSD and QLCeSSD, compounded by a shortage in HDD supply [1] Group 1: Demand Dynamics - The application of AI technology is continuously advancing, leading to increased demand for high-performance SSDs from cloud service providers [1] - The shortage of HDD supply is prompting cloud service providers to shift their orders to SSDs, further boosting NAND Flash demand [1] Group 2: Supply Chain Considerations - Major manufacturers are maintaining a cautious capacity expansion strategy due to past cycles, which may limit the contribution to bit output growth by 2026 despite a rebound in capital expenditures [1] - The lag in capacity construction cycles will restrict the incremental contribution to bit output growth in the coming years [1]
江波龙：存储供需格局改善叠加AI需求推动，NAND Flash需求迎来爆发