Hey, I'm Kramer. Welcome to Mad Money. Welcome to Kramer America, my friends. I'm just trying to save a little money. My job is not just to entertain you, but to educate, to teach you. So, call me at 1800 743 CCMC. Tweet me at Jim Kramer. All right, it's time we need to start worrying about the froth. I've been willing to look the other way on this issue because I figured speculative stocks would keep roaring because the public wants them badly enough to pay almost any price. But after day where the Dow dip ...

Let's get to it. Stop trading with Jim. >> One of my favorite companies is Micron.They do report next week. It's had a parabolic move in the last few weeks. It seems to be peing today.I would not bet against this. Micron, uh, Seagate, uh, Western Digital and Dell today. David, I think there's something going on that's very bullish about DRAM and about PCs.It's not being captured by this market. This market is overlooking it. >> What is it. >> It's demand. >> Demand's picked up for PCs.You you think so. >> Y ...

Core Viewpoint - The Intel 1103 chip was the first commercially successful DRAM chip, marking a significant advancement in semiconductor memory over magnetic core memory in terms of price, density, and logical compatibility [1][2]. Group 1: Historical Context - The Intel 1103 was launched in October 1970, aiming to match and surpass the performance and cost of magnetic core memory, which was prevalent at the time [1]. - By 1971, the 1103 became the best-selling semiconductor memory chip globally, adopted by 14 out of 18 major computer manufacturers within two years [2]. Group 2: Technical Specifications - The 1103 chip encapsulated 1024 bits of data in an 18-pin dual in-line package, utilizing p-MOS technology with an 8-micron silicon gate process [4]. - It featured a 32×32 bit internal array, requiring a refresh of all memory every 2 milliseconds, with many designers employing burst refresh strategies [6]. Group 3: Market Impact and Adoption - Despite its technical limitations, the economic advantages of the 1103 led to its widespread adoption, with major systems like HP's 9800 series and DEC's PDP-11 utilizing it as primary memory [10]. - The introduction of the 1103A variant improved timing margins and reduced power consumption, further facilitating its integration into various systems [10]. Group 4: Legacy and Influence - The Intel 1103 established a foundation for future DRAM technologies, paving the way for single-transistor DRAM and influencing the development patterns of DRAM that persist today [13]. - It serves as a reminder that disruptive designs do not always need to be the most elegant, emphasizing the importance of system-level economics over transistor-level perfection [13].

Group 1 - The US stock market showed mixed results with major tech stocks fluctuating, while popular Chinese concept stocks mostly rose, suggesting a strategy of buying on dips [2] - The Shanghai Composite Index reached a ten-year high, with significant trading volume, indicating a bullish market sentiment and opportunities for active participation [2] - The focus on the ChiNext and STAR Market reflects a trend towards high volatility stocks, which are seen as the fastest route to profit in the current bull market [2] Group 2 - A significant breakthrough in star-ground communication technology was achieved by a Chinese research team, doubling the transmission rate to 4200 Mbps using dual-channel X-band [3] - The micro-short drama industry is rapidly expanding, with over 2300 vertical screen micro-short drama crews received in the first seven months of the year, surpassing the total for 2024 [4] - The global DRAM market reached a historical quarterly high of $32.101 billion in Q2 2025, driven by AI demand and rising prices for traditional DDR4/LPDDR4X [5] - China's manned lunar exploration program made a significant milestone with the successful ignition test of the Long March 10 series rocket, following previous successful tests [6] - The launch of multiple models by Zhiyuan Robotics aims to enhance online sales channels and broaden brand coverage, with products set to be available on major e-commerce platforms [8]

Market Overview - US stock market showed slight fluctuations ahead of the global central bank meeting, with the S&P 500 index down 0.01%, Dow Jones down 0.08%, and Nasdaq up 0.03% [1] - The Nasdaq Golden Dragon China Index rose by 0.12%, with notable gains in Chinese concept stocks such as Xunlei up over 37%, Burning Stone Medical up about 36%, and Huami Technology up over 28% [3] Company Performance - Meta Platforms saw a decline of over 2%, while Tesla rebounded by over 1% and Intel dropped nearly 3.7% [2] - Novo Nordisk's stock increased by nearly 7%, and its partner GoodRx surged by 37% following the announcement of a cash payment discount for its weight loss drug [2][7] - China Shipbuilding reported zero objection shares, leading to stock resumption [22] Economic Indicators - US Treasury yields have risen for three consecutive days, with the ten-year yield reaching a two-week high [4] - The dollar index rebounded, moving away from a two-week low [4] Industry Developments - India and Vietnam have imposed anti-dumping duties on Chinese PVC and steel products, respectively [6] - The low-altitude economy is gaining traction, with the first low-altitude route connecting Kunshan and Shanghai officially launched, reducing travel time to 20 minutes [15] - Beijing is advancing hydrogen energy infrastructure and applications, with plans for a comprehensive network in the Beijing-Tianjin-Hebei region [16] Financial Results - Shan Jin International reported a net profit of 1.596 billion yuan for the first half of the year, a year-on-year increase of 48.43% [24] - Cambridge Technology's net profit for the first half of the year was 121 million yuan, up 51.12% year-on-year, driven by strong performance in high-speed optical modules and telecom broadband access [24] - Fei Rongda's net profit surged by 118.54% to 166 million yuan, attributed to increased market share and demand recovery in consumer electronics [24] New Initiatives - Guangdong has released guidelines for financial support for AI and robotics projects, with individual projects eligible for up to 50 million yuan in subsidies [11] - Chongqing is seeking public opinion on its hydrogen station industry development plan for 2025-2035, aiming for systematic infrastructure development [11][16]

Financial Data and Key Metrics Changes - The GAAP net loss for Q2 2025 was $5 million, or $0.17 per share, compared to a net loss of $4.4 million in Q2 2024, which was $0.16 per share [20] - GAAP operating expenses in Q2 2025 were $5.2 million, an increase of $565,000 from $4.6 million in Q2 2024 [20] - Non-GAAP net loss in Q2 2025 was $4 million, compared to a loss of $3.6 million in Q2 2024 [21] - Cash and cash equivalents as of June 30, 2025, were $22 million, down from $24.1 million as of March 31, 2025 [22] Business Line Data and Key Metrics Changes - The company is experiencing higher wafer activity due to multiple ongoing initiatives and customer engagements [4] - Significant customer interest in MST technology has been noted, with many licensees conducting demo runs [7][9] - The transition to 300mm wafers by ST Micro is expected to delay process qualification but presents a significant revenue potential [5][6] Market Data and Key Metrics Changes - The semiconductor industry is seeing macro factors that favor Atomera's product initiatives, leading to increased wafer activity [4] - The company is expanding its focus from GaN for power to include GaN for RF, indicating a strategic shift to capture growth in RF applications [11] Company Strategy and Development Direction - Atomera aims to enable new capabilities for electronic devices through innovative solutions that address industry challenges [24] - The company is actively engaging with top semiconductor manufacturers to convert current engagements into commercial success [24] - Atomera has joined the National Semiconductor Technology Center to contribute to U.S. semiconductor technology leadership and reduce prototyping costs [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing a high level of customer engagement and the potential for several agreements to materialize soon [18] - The company is focused on improving yields and performance in advanced nodes, which is critical for customer adoption [10] - Management believes that the current level of innovation and patent filings positions Atomera favorably in the market [15] Other Important Information - The company has exceeded 400 issued and pending patents, marking a significant milestone [16] - Atomera is making progress in hiring additional team members to support increased customer activity [19] Q&A Session Summary Question: What is the impact of the delay with STMicro on the transition to 300mm wafers? - Management indicated that prior work with STMicro will be beneficial for the transition to 300mm wafers, and they are confident in moving forward quickly once the necessary tools are in place [28][29] Question: How are other customers reacting to the STMicro situation? - Management noted that while the STMicro delay is specific, other customers are already starting their projects with 300mm wafers, indicating a low risk of industry-wide setbacks [60] Question: Can you elaborate on the transformative customers mentioned? - Management described one customer conducting a large-scale demo run, which is expected to yield significant insights and learning cycles [41][42] Question: What is the status of the collaboration with the unnamed equipment vendor? - Management confirmed ongoing discussions and weekly meetings to define customer engagement strategies and application areas [51][52] Question: What are Atomera's plans regarding the data center market? - The company is targeting the data center market with its MST SPX and gallium nitride technologies, which are expected to enhance power efficiency [67] Question: Are there updates on contract discussions with memory customers? - Management refrained from commenting on specific contract discussions but confirmed ongoing efforts to develop new IP for memory device structures [71][72]

Core Viewpoint - The article discusses the critical role of different types of DRAM in meeting the growing computational demands of artificial intelligence (AI), emphasizing the importance of memory bandwidth and access protocols in optimizing system performance [1][4]. DRAM Types and Characteristics - Synchronous DRAM (SDRAM) is categorized into four main types: DDR, LPDDR, GDDR, and HBM, each with distinct applications and advantages [1][2]. - DDR memory is optimized for complex operations and is commonly used with CPUs, offering the fastest latency and moderate bandwidth [1]. - Low Power DDR (LPDDR) is designed to reduce power consumption while maintaining performance, making it suitable for mobile and battery-powered devices [2][14]. - Graphics DDR (GDDR) is tailored for GPU applications, providing higher bandwidth than DDR but with higher latency [2][17]. - High Bandwidth Memory (HBM) utilizes wide bus stacks to deliver extremely high bandwidth, essential for data-intensive tasks like AI training and high-performance computing [2][7]. Market Dynamics and Trends - HBM is primarily utilized in data centers due to its high cost and power consumption, limiting its application in cost-sensitive edge devices [7][8]. - The trend is shifting towards hybrid memory solutions, combining HBM with LPDDR or GDDR to balance performance and cost [8][19]. - LPDDR is gaining traction in various systems, especially in mobile and automotive applications, due to its excellent power-to-performance ratio [14][15]. - GDDR is often overlooked in AI systems despite its high throughput, as it does not meet the specific needs of many applications [17]. Future Developments - LPDDR5X has been launched, meeting many application requirements, while LPDDR6 is anticipated to enhance performance further [19]. - HBM4 is expected to double the bandwidth and channel count compared to HBM3, with a release planned for 2026 [20]. - The development of custom HBM solutions is emerging, allowing bulk buyers to collaborate with manufacturers for optimized performance [8]. Geopolitical Considerations - Geopolitical factors are influencing the availability and adoption of HBM, particularly in regions like China, which may limit access to advanced memory technologies [8].

Group 1 - The core viewpoint of the news is that Zhejiang Liji Storage Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC (Hong Kong) as the sole sponsor [1] - Liji Storage was established in 2020, focusing on the potential of DRAM, and has a history of investment from Longxin Zhongke [1] - The company has undergone multiple rounds of capital increases and share transfers, with a valuation of 1.235 billion yuan in March 2025 [1] Group 2 - Liji Storage is a memory chip design company and AI computing solution provider, with a complete product line from SDR to DDR4, focusing on the niche DRAM market [2] - The company reported revenues of 610 million yuan, 580 million yuan, and 646 million yuan for 2022-2024, with losses of 139 million yuan, 244 million yuan, and 109 million yuan respectively [2] - The gross profit margins for the same period were -2.1%, 3.7%, and 9.3%, indicating a gradual improvement in profitability [2] Group 3 - The memory chip market is highly competitive and increasingly so, which poses risks to the company's business and future prospects [3] - The market is characterized by cyclicality and periods of declining average selling prices, which could adversely affect the company's financial condition [3] - The company has recorded net cash outflows from operating activities of 176 million yuan, 63 million yuan, and 18 million yuan for 2022, 2023, and 2024 respectively, indicating significant financial pressure [3]