If the trillion-dollar market cap logic for MU holds (and it has been proven), it means the market is revaluing memory storage — MU, SK Hynix, and Samsung, the three giants, have all reached trillion-dollar market caps.

This is truly hard for many people to accept, because they all missed the run-up. How on earth could these stocks just keep climbing like that? And what about those of us playing the "Magnificent Seven"? I partially missed it myself (I didn't go all-in on memory), and I used to be a bit of a skeptic on SNDK too. But I won't dwell on that.

What I want to express in this post is a different idea: if memory chips are this scarce, it means demand from AI data centers is growing explosively — whether it's a bubble or genuine demand, that's the reality right now.

And if there are this many AI data centers, their internal connectivity relies on optical-copper composite cabling — which is why optical communications stocks surged hard earlier. But what about the communication between data centers? How does that work? There must be backbone networks and low-latency networks to handle that.

Therefore:

NOK (Nokia) is not some comeback story for an old-school phone maker — the market is betting that it transforms from a device vendor back into an AI infrastructure network builder.

Nvidia and AMD are the heart of AI infrastructure; memory companies like Micron are the stomach; LITE (Lumentum) and MRVL (Marvell) are the internal blood vessels of AI infrastructure; while NOK (Nokia) and Cisco are the external vascular network, connecting all the data centers into one grid. The more AI centers there are, the more valuable the network becomes — and the market hasn't fully priced this in yet. There's still room to run.

I believe that AI infrastructure buildout will eventually come to a halt — just like China's real estate market. Civil engineering students can't find jobs, and housing prices were once said to only ever go up.

But before that inflection point arrives, those who were meant to get rich will get rich, and those who made their money will be sunbathing in Hawaii.