State of @SiaFoundation Q3 2025Key Update: Sia completed its V2 hard fork and shifted the network onto a lighter, modular storage stack—shipping Utreexo light nodes, the RHP4 protocol, QUIC networking, and production renterd/hostd/walletd—while active storage contracts grew and dollar storage costs hit their lowest level in a year.QoQ Metrics 📊• Active storage contracts ↑4.3% to 14.3K• Avg storage price ↑17.2% to 555.8 SC/TB/month• Avg storage cost ↓ to ≈$1.43/TB/month (lowest in the past year)• Network cap ...

Hey everybody, Ethan Sloan with SanDisk. We're going to talk a little bit about SanDisk DDN powering the next generation of AI and HBC. Nobody's talked AI here, so this will be the first one, right.Obviously, a little bit about me. So, at SanDisk, enterprise solid state drive representation, helping to fuel the uh the channel. So the goal today is to answer questions with regards to who, what, where, why, when, and how.The who part is who am I. Ethan just introduced myself. Let's get into the what.Right. So ...

AI Infrastructure Challenges - Power is identified as the primary constraint for AI development currently [1] - Cooling technologies are undergoing significant advancements to accommodate increasing GPU Thermal Design Power (TDP) and Megawatt-class racks [1] - Shortages are occurring in Printed Circuit Board (PCB) manufacturing for GPUs/ASICs [1] - Optical technology is rapidly expanding to support the transition from 100 Megawatt (MW) to over 1 Gigawatt (GW) data centers [1] - Storage and memory demands are surging due to AI inference and video/image generation [1]

Core Viewpoint - The profitability of overseas storage manufacturers continues to improve, while some domestic storage module companies are rapidly turning losses into profits. The profit release is expected to accelerate in the second half of 2025, benefiting from the rising prices in the storage market driven by demand from AI and multi-modal applications [1][4]. Demand Side - The demand for storage is significantly increasing in the AI era, shifting from mobile and internet companies to generative AI. Flash storage demand in data centers is projected to grow from 600EB in 2020 to 2.4ZB by 2028. The Sora2 model's deep learning capabilities require substantial storage, consuming nearly 100MB for a 10-second 4K video, which is hundreds to thousands of times more than text storage needs. By 2026, global NAND Flash bit demand is expected to exceed 200EB, with AI driving increased storage needs across various data types [2][3]. Technology Side - Storage manufacturers are set to release HBM4 products in bulk by 2026, with companies like Micron expected to sell out their HBM capacity. Various companies are developing advanced storage solutions, such as CUBE and 3D DRAM, to meet innovation trends. New architectures like CBA are being adopted to enhance performance, and NAND stacking architectures are being proposed to address memory wall issues in data centers and edge AI applications [2][3]. Supply Side - Due to the higher profitability of HBM products, storage manufacturers are actively controlling production capacity to maintain price increases. Capital expenditures are focused on high-end products, with no significant plans for expanding NAND Flash production. Consequently, NAND Flash capital expenditure is expected to remain low in 2026, and new production lines will take time to come online, leading to a supply-demand gap [3][4]. Price Trends - In October, prices for various storage models accelerated, with month-on-month increases ranging from 40% to 100%. The demand from AI servers has prompted storage manufacturers to announce price hikes, with some Taiwanese and mainland module manufacturers following suit, resulting in an overall industry inventory buildup [3][4]. Future Outlook - Unlike the temporary price increases seen in 2024 due to production cuts and price hikes, the current storage industry cycle is primarily driven by the explosion of storage demand in the AI era, coupled with limited supply-side capacity. The supply-demand gap is expected to widen further in the first half of 2026, with price increases likely to continue [3][4].

Company Performance - Sunun has generated cash for five quarters and is in a strong position as the nation's largest distributed power plant [1] - Sunun's stock has tripled, reflecting market appreciation of its performance and policy certainty [1][3] Business Model & Strategy - Over 90% of Sunun's business involves delivering technology as a subscription service, differentiating it from direct consumer credit models [4] - Sunun has made a sharp pivot to being a storage-first company, installing enough solar and storage capacity annually to meet the equivalent of a nuclear power plant's peak capacity [5] - Storage is installed approximately 74% of the time when installing on customers' homes across America [8] Market & Industry Dynamics - The resolution of budget bill uncertainty this summer allowed the market to appreciate Sunun's achievements and future potential [3] - Sunun's distributed energy solutions helped prevent blackouts in Puerto Rico and supplied half of San Francisco's peak energy demand in one day [7] - Electricity demand has increased significantly, reaching levels not seen since World War II, highlighting the need for increased energy capacity [12]

Core Insights - Super Micro Computer, Inc. (SMCI) has established Super Micro Federal LLC to enhance its presence in the federal market, focusing on high-performance and energy-efficient IT solutions developed in the USA [1][2][3] Group 1: Company Expansion and Commitment - The new federal subsidiary will utilize Supermicro's Data Center Building Block Solutions for rapid customization and deployment of AI-ready systems, ensuring performance and cost-efficiency for government agencies [3] - Supermicro is committed to supporting U.S. federal government initiatives by providing complete data center IT solutions manufactured in Silicon Valley, California [2] - The company is exploring new manufacturing facilities in the U.S. to meet increasing demands, reflecting its dedication to American manufacturing and job creation [4] Group 2: Product and Service Offerings - Supermicro offers a comprehensive range of Application-Optimized Total IT Solutions, including server, AI, storage, IoT, and switch systems, designed to optimize for specific workloads and applications [5] - The company emphasizes its in-house design and manufacturing capabilities across the U.S., Taiwan, and the Netherlands, which enhances operational efficiency and reduces environmental impact [5][7] - Supermicro's award-winning Server Building Block Solutions allow customers to select from a broad family of systems tailored to their needs, supporting various form factors and technologies [5]

Compute Infrastructure - Compute is considered the base layer for a broader technology stack [1] - Downstream protocols are expected to benefit from compute infrastructure [1] Related Technologies - Interconnect and storage layers are likely to benefit [1] - Dataset markets are likely to benefit [1] - Verification/oracles are likely to benefit [1] - Identity for access control is likely to benefit [1]

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Company Overview & HPC Leadership - Evident, a spin-off of ATOS, specializes in high-performance computing (HPC) solutions, including mainframes, processors, and high-speed networks [2] - The company positions itself as the largest HPC provider in Europe and a significant provider in Latin America and India [2][3] - Evident is a partner with DDN, utilizing DDN as its back end for most of its delivered systems [2] HPC & AI Integration - Evident is bringing HPC to AI, exemplified by a cluster of approximately 40 DGX units implemented in Ecuador for computer vision, processing 5 gigabytes per second of video stream from over 18,000 cameras [4][5] - The Ecuador system utilizes a 31 petabyte Luster file system and a 21 petabyte system based on S400 and X2, chosen for its fast failover and recovery capabilities [6] Storage Challenges & Solutions - The presentation highlights challenges related to storage, including inefficient small file storage (7KB) leading to performance issues [7][8] - Another challenge involved seismic image processing requiring 900 gigabytes of data reads and writes, which was addressed using local caching [9][10] Large Language Models (LLMs) & System Failures - Meta's model training, involving an 800 gigabyte model and a cluster of 25,000 GPUs (using only 16 initially), faced frequent failures (419 failures in 45 days, approximately one failure every 3 hours) [11][12] - Checkpointing is deemed a necessity due to the high failure rate of components (GPUs, interconnects, power supplies, software bugs) in large-scale systems [13][14] Scalable & Efficient HPC Systems - Evident is building its first exascale system based on its technology, aiming for high efficiency, with one model ranking number one and another in position six on the Green500 list [15] - The company is delivering approximately five exascale systems in Brazil, utilizing DDN storage solutions focused on IOPS, bandwidth, and space [16][17] Key Takeaways for Large Workloads - Large workloads like LLMs require large systems, which are prone to component failures [17][18] - Mitigating failures requires a robust design in network and storage, compatible with the number of GPUs, and the use of checkpointing [18][19]

Group 1 - The semiconductor chip sector is experiencing a strong performance due to increased investments in artificial intelligence (AI) by cloud service providers, leading to a favorable supply-demand environment in computing power and storage [1][3] - Industrial Fulian announced an expected net profit of 6.727 billion to 6.927 billion yuan for Q2 2025, representing a year-on-year increase of 47.72% to 52.11%, driven by rapid growth in its cloud computing business [3] - Major cloud providers like Microsoft and Google are projected to increase capital expenditures by over 30% year-on-year in 2025, while domestic companies like Alibaba and Tencent are expected to exceed 120 billion yuan and 80 billion yuan, respectively [3] Group 2 - The demand for storage products is rising due to the upgrade of storage capacities driven by AI servers, PCs, and mobile phones, with significant order increases reported by multiple storage manufacturers [5] - DRAM contract prices have surged significantly since May, and this upward trend is expected to continue into Q3/Q4 due to supply-demand dynamics [5] - Several A-share semiconductor companies are planning to list in Hong Kong, which may enhance their access to international capital markets and expand overseas production and sales [8] Group 3 - The communication ETF (515880) saw a rise of 4.65% on July 8, reflecting positive market sentiment towards AI and semiconductor-related stocks [2][3] - The AI server revenue for Industrial Fulian increased by over 60% year-on-year, while revenue from cloud service provider servers surged by more than 150% [3] - The domestic largest DRAM manufacturer, Changxin Storage, has initiated listing guidance, aiming to raise funds to expand production capacity and enhance domestic production rates [5]