Maybe. I mean at least a major part of it is that AI pays a lot more money than the consumer does, and even if the consumer market pulls back, they are banking on the raised prices to stay around even if they can increase capacity.

I think what scares them is that CXMT is rapidly catching up to the state of the art. If they dick around for too long, they run the real risk that China and CXMT will do what China does and sweep the market with really cheap memory they can’t compete with.

These companies still care about non-ai servers, and that’s a big part of the market that could be obliterate pretty quickly.