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According to a local media report, SK Hynix is slowing the expansion of its AI memory chip production and shifting its focus to cheaper commodity DRAM.
Amanda Lyons believes that at some point the memory chip market will shift from being supply-constrained to having too much supply, causing cyclicality to return to the sector.
The Wall Street Journal reported that Apple CEO Tim Cook stated the company will raise prices as a result of higher memory prices.
Amanda Lyons believes the upcoming S-1 filings from Anthropic and OpenAI will provide crucial information on the underlying profitability and long-term viability of the AI industry.
Despite significant client growth, Creatio is not increasing its headcount in its call center and customer service organization this year due to the implementation of AI capabilities.
China's Commerce Ministry added 10 U.S. defense-related firms, including rare earth producers MP Materials and USA Rare Earth Inc., to its control list, banning exports with potential military use to these companies.
The Group of Seven (G7) countries have agreed to a goal that no single country should supply more than 60% of their rare earth imports by 2030.
The Nasdaq 100 index declined by approximately 3% amid a sell-off in technology stocks.
The Philadelphia Semiconductor Index (SOX) slid by approximately 8.3%, a key gauge for chip makers that had previously doubled from its lows.
South Korea's KOSPI index plunged 10% from a record high, driven by declines in a few large, influential companies.
Amanda Lyons believes the recent sell-off in technology stocks does not represent a change in the fundamental story for AI, but is rather a positioning issue.
Amanda Lyons predicts that the peak in the current memory pricing cycle has not yet been reached.