Feels like SNDK's target is a bit overhyped. NAND doesn’t have as high of a barrier as DRAM, so the expansion pace is faster, and performance improvements come quicker. Even though the spotlight has been on ChangXin recently, Yangtze Memory is actually SNDK’s direct competitor. Yangtze’s expansion pace is super aggressive, with an annual growth rate of 50%. Kioxia’s expansion pace is relatively conservative. Meanwhile, SK Hynix has restarted its second-phase expansion in Dalian to boost its NAND production capacity. Right now, the companies with both NAND and DRAM production capacity are Samsung, SK Hynix, and MU. They’re all tilting their Capex expansion toward DRAM because it has higher barriers and greater value. SNDK and Yangtze only have NAND production capacity. With Yangtze’s aggressive expansion, Kioxia’s relatively conservative approach, and no significant performance gap between their products, I seriously doubt SNDK’s ability to maintain high profit margins over time. Based on institutional research and my own AI-related forecasts, Q2 2027 should be when prices reverse and supply-demand balance is achieved. From the retail perspective: RAM prices have increased 3-4x. SSD storage prices have roughly doubled. iykyk