B[On the eve of Micron’s earnings report, super bulls reiterated a $2,000 target price] September 29th, on the eve of Micron Technology’s earnings report on Wednesday, a super bull of the memory chip giant reiterated a $2,000 target price for the stock, which is close to the highest level on Wall Street. The target price given by D.A. Davidson analyst Gil Luria is about 100% higher than Micron Technology's latest closing price. Luria pointed out that memory is the key to running large AI models. The larger the memory capacity, the better the model, the faster the reasoning, and the longer the context window. Market participants across the board have repeatedly said that demand is still skyrocketing and that it will take at least a year for new supply to catch up. The current valuation multiples given by the market have ended the pricing storage cycle, but the demand for AI computing power continues to grow. B[AAC Technology and Intel reached a liquid cooling ecological partnership] September 23rd, according to the AAC Technology official account, on September 23, AAC Technology and Intel reached a liquid cooling ecological partnership. The two parties plan to jointly promote liquid cooling technology cooperation for high-density servers and rack-level architectures. The cooperation between the two parties will focus on the construction of liquid cooling core components, system-level solutions and verification capabilities, covering CPU cold plates, memory and SSD liquid cooling, UQD/QD quick connectors, manifolds, CDUs, as well as complete machine node and rack-level liquid cooling solutions. B[The concept of memory chips fluctuated and pushed up, Chengbang shares hit the daily limit] On September 21, the concept of memory chips fluctuated and pushed up, Chengbang shares hit the daily limit, Shannon Core rose by more than 7%, Changxin Technology, Netac Technology, Longsys, and Puran shares followed suit. On the news, according to the latest estimates from UBS, global AI capital expenditures will total US$998 billion in 2026, almost double the US$506 billion in 2025. The substantial upward revision of this forecast is mainly due to the rapid increase in memory prices. UBS estimates that global memory spending will jump from $71 billion in 2025 to $367 billion in 2026. B[Digital China: Its subsidiary Kuntai launched a new generation product matrix based on the Ascend 950 technology route] On September 17, the Ascend AI Artificial Intelligence Industry Summit was held, and the Ascend 950 super node was officially launched on site. At the same time, Kuntai, a subsidiary of Digital China, officially released a new generation of AI computing power product matrix based on the Ascend 950 technology route, covering KunTai A989 I5 standard server, KunTai A989 I5 air-cooled super node, and KunTai PoD2000 A5 liquid-cooled super node. It is accurately adapted to core AI business scenarios such as large model training and high-concurrency intelligent reasoning, and builds a high-performance computing power base for the intelligent development of AI in various industries. Among them, for large-scale data center construction, trillion-level large model training and center high-concurrency inference scenario computing power, a single super node of KunTai PoD2000 A5 integrates 1024 cards, supports 256TB unified memory addressing, and has a 1000-card MTBF of up to 300 hours, leading the industry by more than 25%. Relying on the terabyte-level NPU interconnection ultra-large bandwidth and 3μs ultra-low RTT latency, it breaks through the communication bottleneck of various resources such as computing and storage in the cluster. B[Huawei releases new AI computing architecture to turn millions of processors into one computer] "Science and Technology Innovation Board Daily" reported on the 17th that Huawei released a new computing architecture in the AI era - Peerium computing architecture, which can turn millions of processors into one computer to meet the evolving needs of AI computing power. Peerium computing architecture is a computing architecture based on nested parallelism, unified memory addressing, and equal interconnection to achieve strong expansion of million-level processors. Peerium computing architecture breaks through the Turing paradigm, proposes Nested BSP, and breaks through the von Neumann single-machine architecture. Lingqu is the key interconnect technology to realize the Peerium computing architecture, which can infinitely expand the high-speed bus connecting CPU, NPU, memory, SSD, network card and switch. The Atlas 950 super node is the first generation product of Peerium's computing architecture. The 256,000-card Atlas 950 super node cluster is already being deployed, and the NPO-based Atlas 960 system is being tested. (Kechuangban Daily reporter Huang Xinyi) B[Resource prices have climbed to historical peaks This week, the industry's DDR5 memory modules have increased slightly following the increase in costs] "Science and Technology Innovation Board Daily" reported on the 15th that as time has entered the end of the third quarter, after nearly three months of continuous increase in resources, the industry's DDR5 secondary particles and embedded LP resources have risen to historical levels. However, the industry's DDR5 memory modules and LP4X/5X finished products have reached their limits due to customer price tolerance. Facing the demand for continued shrinkage, some storage manufacturers have begun to slow down resource procurement. The state of "low demand, low stocking, and low shipments" may continue for some time in the future. In the past six months since September last year, the secondary particles suitable for the industry's DDR5 memory modules have grown at a cumulative growth rate of more than 6 times. In late March, the price fell for a month and then continued to trade sideways. At the beginning of the third quarter, the price stopped falling and rebounded. The continued rise caused the price of DDR5 secondary particles to hit a record high. Faced with the rolling increase in costs, industry manufacturers have increased related finished products in stages. However, the excessively high product prices are facing more customer resistance. Only a few overseas customers can still accept the high prices. This week, the price of 8GB/16GB DDR5 memory modules in the industry increased slightly. Currently, more and more PC OEMs are evaluating switching more products to downgrade solutions to cope with cost pressures. Changes in customer demand will also make shipments more difficult. In the future, industry storage manufacturers will be more cautious about stocking up on high-priced resources. (flash market) B[Two departments: Improving the level of artificial intelligence chip design] On September 15th, the Ministry of Industry and Information Technology and the National Development and Reform Commission issued the "15th Five-Year Plan for the Development of Electronic Information Manufacturing Industry". It mentioned that the design level of artificial intelligence chips should be improved and technological innovations such as tensor core data flow organization, mixed precision, dynamic sparse computing, and unified memory architecture should be strengthened. Focus on core performance indicators such as low latency, high throughput, and low power consumption, improve the comprehensive computing capabilities of general-purpose graphics processors (GPGPUs), application-specific integrated circuits (ASICs), SoCs and other processors, and lay out new routes such as soft-hard coupling inference chips. B[Two departments: Accelerate the development of advanced storage capabilities and develop new storage products such as high-bandwidth flash memory and high-bandwidth memory] On September 15, the Ministry of Industry and Information Technology and the National Development and Reform Commission issued the "15th Five-Year Plan for the Development of Electronic Information Manufacturing Industry", which mentioned that accelerating the development of advanced storage capabilities, promoting storage-based computing and storage-based computing, improving the technical level of distributed, hyper-converged and other storage systems, and improving hierarchical and hierarchical data storage architecture and storage protocols. Make breakthroughs in technologies such as intelligent tiered storage, data sparsity optimization, and key-value caching, and develop new storage products such as high-bandwidth flash memory, high-bandwidth memory, ferroelectric memory, resistive switching memory, and magnetoelectric memory. B[Two departments: Accelerate the layout of new computing paradigms such as storage and computing integration, quantum computing, optical computing, brain-inspired computing, space computing] On September 15th, the Ministry of Industry and Information Technology and the National Development and Reform Commission issued the "15th Five-Year Plan for the Development of Electronic Information Manufacturing Industry", which mentioned the establishment of an advanced computing ecosystem. Accelerate research on advanced computing products and technological innovations such as computing architecture, data storage, high-speed interconnection, software and hardware collaboration, and computing and electricity collaboration, promote the establishment of major national science and technology projects in advanced computing, and continue to improve the supply level of computing root technology, key components, core components, software algorithms, and computing equipment. To meet the needs of massive and diversified intelligent computing, build a heterogeneous collaborative computing system, develop a computing micro-architecture for large artificial intelligence model training and inference, and break through key technologies such as distributed computing, high-bandwidth memory pools, cloud-edge collaboration, all-optical switching, and liquid cooling. Strengthen the collaboration and integrated innovation of computing power, storage capacity, transportation capacity, electricity and other elements, accelerate the layout of new computing paradigms such as storage and computing integration, quantum computing, optical computing, brain-like computing, and space computing, and promote the integrated development of intelligent computing, general computing, super computing, etc. Improve the computing standard system, strengthen the construction of service platforms, promote the widespread application of advanced computing in new generation intelligent manufacturing, information consumption, social governance and other fields, and improve the advanced computing collaborative innovation ecosystem. B[Changxin Storage's EBIT profit margin reached 82% in the second quarter, surpassing Samsung and SK Hynix] September 11th, the latest data from the global economic survey analysis platform QUICK FactSet showed that in the second quarter of 2026, Changxin Storage's EBIT profit margin reached 82%, surpassing SK Hynix (76%) and Samsung Electronics' semiconductor business (70%) in one fell swoop, becoming the world's most profitable memory chip manufacturer in the current period. During the same period, Changxin Memory's revenue increased approximately 10 times compared with the previous year, with the highest growth rate among the six companies: Changxin Memory, Samsung, SK Hynix, Micron, Kioxia and SanDisk. Some analysts believe that the increase in Changxin Memory’s profit margin is closely related to the current round of changes in the supply and demand of memory chips. As Samsung, SK Hynix and Micron devote more resources to high-bandwidth memory for AI servers, the supply of ordinary DRAM tightens and the price of DDR5 rises sharply, benefiting Changxin Memory. A[Overview of U.S. stock market pre-market news: Apple’s new CEO will make his “debut” tonight; NVIDIA is about to appear at the Goldman Sachs Communications Technology Conference; the “New Bond King” warned that U.S. debt may encounter a historic sell-off next week] September 9th, the financial news in the U.S. stock market that investors need to focus on is as follows:
1. The three major U.S. stock index futures collectively fell. Dow Jones futures fell 0.75%, S&P 500 futures fell 0.45%, and Nasdaq 100 futures fell 0.66%.
2. International oil prices have collectively risen sharply. WTI crude oil futures prices rose 3.08% to US$95.896/barrel; Brent crude oil futures prices rose 2.99% to US$100.851/barrel.
3. The increase in international gold and silver spot prices narrowed. Spot gold prices rose 0.88% to US$4,393.71 per ounce; spot silver prices rose 0.44% to US$66.02 per ounce.
4. The three major European stock indexes fell across the board. Britain's FTSE 100 index fell 1.13%, France's CAC40 index fell 2.05%, and Germany's DAX30 index fell 1.68%.
5. Apple is about to hold an autumn new product launch conference at 1 a.m. on September 10, Beijing time. This will be Ternus’ first launch conference as Apple CEO, marking Apple’s official entry into the “post-Cook era.”
6. Technology reporter Mark Gurman published an article saying that Apple will launch a folding screen mobile phone iPhone Duo at a new product launch event on Wednesday local time, with a starting price of US$2,000. iPhone Duo will be available as early as October.
7. Nvidia will participate in the Goldman Sachs Communications Technology Conference on September 10. The industry is paying attention to Nvidia's views on the mass production of the Vera Rubin platform, CPU business, memory supply, and US chip control policies. The industry expects that Nvidia's stock price may rise sharply in the following days.
8. Google plans to invest at least 13 billion euros (approximately US$15.1 billion) in AI facilities in Finland, including the construction of at least three new data centers, its largest single investment in Europe.
9. The chief financial officer of OpenAI said that it is considering reforming the charging model, testing a new charging model based on performance pricing, gradually bidding farewell to the billing method based on usage, and competing with lower-priced open source models.
10. "New Bond King" Gundlach warned that if the Fed "holds no action" next week, thus going against market expectations, it may push long-term U.S. Treasury yields to rise further and intensify the historic sell-off in the bond market.
11. U.S. Treasury Secretary Bessent said that if the Democratic Party wins either house of the House of Representatives or the Senate in the mid-term elections, the Trump administration will work hard to reduce the federal budget deficit through Congress before the end of the year.
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