$Sandisk(SNDK.US) The saying "forever short of storage" mainly refers to the explosive growth of data in the era of artificial intelligence (AI), where storage, as the carrier of data, sees its demand growing continuously and endlessly. This view has recently been widely circulated in the investment community, with its core logic being: AI development relies on three key elements—computing power (chips), energy, and storage. Compared to the cyclical nature of chip shortages and the long-term nature of energy shortages, the shortage of storage demand is considered "forever" because once data is generated, it needs to be preserved, and the training and operation of AI models require massive data support.

🧠 Why "forever short of storage"?

The current storage shortage crisis is not simply a fluctuation in supply and demand but a structural mismatch in production capacity triggered by AI:

1. AI "devours" most of the production capacity: AI servers require several times more storage chips than traditional servers. To meet AI demand, global storage chip giants (such as Samsung, SK Hynix, and Micron) have shifted most of their new production capacity to high-bandwidth memory (HBM), which is more profitable and technologically complex, for AI training and inference.

2. "Supply cuts" in traditional sectors: As production capacity is squeezed by AI, the supply of traditional storage chips (such as DDR4/DDR5 memory and NAND flash) for consumer electronics like PCs and smartphones has become tight. The era of "cheap and plentiful" storage may be over.

3. Demand continues to surge: Beyond data centers, emerging fields like autonomous driving and humanoid robots are also competing for limited storage resources, further exacerbating the shortage. The current shortage is considered "unprecedented" and is expected to persist beyond 2026.

📈 Related U.S. stocks

The investment logic of "forever short of storage" mainly benefits leading companies in the global storage chip industry, with Micron Technology, Inc. being the most representative.

* Micron Technology (MU): It is the most closely watched U.S. stock under this logic. Micron has clearly stated that its high-end memory products for AI are fully booked, with 2026 production capacity almost sold out. The company is accelerating production expansion to meet demand and expects the tight supply situation to continue until the end of 2026 and beyond. Its stock has significantly outperformed the market in 2025 and is seen as a core beneficiary of "AI infrastructure."