The Transcript
RT @TheTranscript_: $META CFO: "We are also starting to see functions outside of engineering, such as product managers and 10 designers be able to engage in more of the technical work because of coding tools. So looking ahead this year, we’re going to integrate these coding tools more deeply into our developer environment."
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RT @TheTranscript_: $META CFO: "We are also starting to see functions outside of engineering, such as product managers and 10 designers be able to engage in more of the technical work because of coding tools. So looking ahead this year, we’re going to integrate these coding tools more deeply into our developer environment."
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Michael Fritzell (Asian Century Stocks)
Google search queries for "Pocari Sweat" (Otsuka Holdings 4578 JP) https://t.co/CADwSzATWc
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Google search queries for "Pocari Sweat" (Otsuka Holdings 4578 JP) https://t.co/CADwSzATWc
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Illiquid
$ats competitor Ibiden ($4062) announces US$3bn investment to increase production capacity.
https://t.co/ggZpxIKF5Q https://t.co/CgS29PJzWa
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$ats competitor Ibiden ($4062) announces US$3bn investment to increase production capacity.
https://t.co/ggZpxIKF5Q https://t.co/CgS29PJzWa
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Illiquid
Here they come.
TAIPEI -- China's two top memory chipmakers are launching their most aggressive expansions ever as a severe global supply crunch creates a golden opportunity for emerging players to close the gap with market leaders, Nikkei Asia has learned.
ChangXin Memory Technologies, better known as CXMT, the country's top maker of dynamic random access memory (DRAM), is expanding plants in Shanghai, with total capacity to be some two or three times that of its home base in Hefei, according to sources with knowledge of the matter.
The plants are expected to make DRAM for servers, computers, automotive applications and other electronics, the sources said. Equipment installation is planned for around the second half of 2026, with production to start in 2027, they said. The chipmaker is also expanding its production lines for high-bandwidth memory (HBM), a crucial AI component, in Shanghai.
"The company's plants in Hefei and Beijing are already running at full capacity," one of the people familiar with the matter said. "They see very high demand, mainly from local companies, to expand capacity as soon as possible."
Wuhan-based Yangtze Memory Technologies (YMTC), the nation's leading maker of NAND flash memory, is building its third plant in the city, aiming for production to start in 2027, Nikkei Asia earlier reported.
YMTC has now decided that in addition to making NAND, 50% of the new plant's capacity will produce DRAM memory, sources briefed on the matter said, adding that the company will also partner with another local memory assembler to build HBM for AI computing.
Three people told Nikkei Asia that YMTC has largely overcome the foreign export controls that have curbed its access to chipmaking equipment by finding ways to produce memory chips using less advanced machines. The company has also finalized the development of its own DRAM products, they said.
"They [YMTC] started to develop their own DRAM more than two years ago. They have the technological foundation and the market, now it is only a matter of time for them to produce quality DRAM and HBM going forward," said one of the people whose company supplies YMTC.
YMTC was at one point poised to become an Apple supplier, with the U.S. company verifying its NAND flash memory products for use in iPhones. This plan was disrupted, however, when YMTC was added to the U.S. Entity List, a trade blacklist, in 2022. The company later found growth thanks to Beijing's push to localize tech supplies and a surging memory chip market.
"It is the best timing for them to secure a solid position in the global supply chain, as whoever has memory chips on hand is a winner," said an executive with a material supplier to Micron, CXMT and YMTC. "We estimate the bright outlook for the memory sector is going to last for at least two years and beyond."
AI computing demand is driving a supercycle in the global memory chip market, with prices up hundreds or even thousands of percent on the year. This surge has already disrupted multiple electronics markets and product planning for 2026. Several industry executives told Nikkei Asia that Chinese memory chipmakers' expansions will mainly serve local demand.
DRAM temporarily stores data, enabling rapid access that directly affects system performance. HBM, which is built from stacked DRAM chips, is critical for AI computing because it allows fast data transmission. NAND flash memory, meanwhile, serves as the primary storage in electronic devices, with rising AI inference, or deployment, demand driving increased usage.
China's CXMT is the world's fourth-largest DRAM maker, behind Samsung, SK Hynix and Micron, with a market share of about 11.1% by capacity, according to Yole Group. That figure is expected to grow to about 13.9% by 2027, Yole estimated. CXMT already counts many major tech players such as Alibaba Cloud, Tencent, ByteDance, Lenovo, Xiaomi, Oppo and Vivo among its clients, according to an IPO sponsorship Letter by China Internationa[...]
Here they come.
TAIPEI -- China's two top memory chipmakers are launching their most aggressive expansions ever as a severe global supply crunch creates a golden opportunity for emerging players to close the gap with market leaders, Nikkei Asia has learned.
ChangXin Memory Technologies, better known as CXMT, the country's top maker of dynamic random access memory (DRAM), is expanding plants in Shanghai, with total capacity to be some two or three times that of its home base in Hefei, according to sources with knowledge of the matter.
The plants are expected to make DRAM for servers, computers, automotive applications and other electronics, the sources said. Equipment installation is planned for around the second half of 2026, with production to start in 2027, they said. The chipmaker is also expanding its production lines for high-bandwidth memory (HBM), a crucial AI component, in Shanghai.
"The company's plants in Hefei and Beijing are already running at full capacity," one of the people familiar with the matter said. "They see very high demand, mainly from local companies, to expand capacity as soon as possible."
Wuhan-based Yangtze Memory Technologies (YMTC), the nation's leading maker of NAND flash memory, is building its third plant in the city, aiming for production to start in 2027, Nikkei Asia earlier reported.
YMTC has now decided that in addition to making NAND, 50% of the new plant's capacity will produce DRAM memory, sources briefed on the matter said, adding that the company will also partner with another local memory assembler to build HBM for AI computing.
Three people told Nikkei Asia that YMTC has largely overcome the foreign export controls that have curbed its access to chipmaking equipment by finding ways to produce memory chips using less advanced machines. The company has also finalized the development of its own DRAM products, they said.
"They [YMTC] started to develop their own DRAM more than two years ago. They have the technological foundation and the market, now it is only a matter of time for them to produce quality DRAM and HBM going forward," said one of the people whose company supplies YMTC.
YMTC was at one point poised to become an Apple supplier, with the U.S. company verifying its NAND flash memory products for use in iPhones. This plan was disrupted, however, when YMTC was added to the U.S. Entity List, a trade blacklist, in 2022. The company later found growth thanks to Beijing's push to localize tech supplies and a surging memory chip market.
"It is the best timing for them to secure a solid position in the global supply chain, as whoever has memory chips on hand is a winner," said an executive with a material supplier to Micron, CXMT and YMTC. "We estimate the bright outlook for the memory sector is going to last for at least two years and beyond."
AI computing demand is driving a supercycle in the global memory chip market, with prices up hundreds or even thousands of percent on the year. This surge has already disrupted multiple electronics markets and product planning for 2026. Several industry executives told Nikkei Asia that Chinese memory chipmakers' expansions will mainly serve local demand.
DRAM temporarily stores data, enabling rapid access that directly affects system performance. HBM, which is built from stacked DRAM chips, is critical for AI computing because it allows fast data transmission. NAND flash memory, meanwhile, serves as the primary storage in electronic devices, with rising AI inference, or deployment, demand driving increased usage.
China's CXMT is the world's fourth-largest DRAM maker, behind Samsung, SK Hynix and Micron, with a market share of about 11.1% by capacity, according to Yole Group. That figure is expected to grow to about 13.9% by 2027, Yole estimated. CXMT already counts many major tech players such as Alibaba Cloud, Tencent, ByteDance, Lenovo, Xiaomi, Oppo and Vivo among its clients, according to an IPO sponsorship Letter by China Internationa[...]
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Illiquid Here they come. TAIPEI -- China's two top memory chipmakers are launching their most aggressive expansions ever as a severe global supply crunch creates a golden opportunity for emerging players to close the gap with market leaders, Nikkei Asia has…
l Capital Corp.
CXMT has already successfully produced older-generation DDR4 and LPDDR4 products and has decided to migrate to more advanced DDR5-class DRAM. The company also aims to support domestic demand for HBM, as supplies have been cut off by U.S. restrictions.
At the end of 2025, it filed an initial public offering application to the Shanghai Stock Exchange, saying it aims to raise 29.5 billion yuan ($4.25 billion) for production line upgrades and research and development.
YMTC has also gained market share thanks to China's policy-driven demand for local supplies. Yole estimates that its share by wafer capacity is about 12% in 2025 and could expand to 15% by 2028.
"Chinese memory chipmakers are expanding capacity to meet surging demand, based on our supply-chain checks," said Gary Huang, head of Asia at Yole Group. "The global memory supply crunch has created a favorable environment for emerging players, giving them healthier financial conditions to support expansion," he said.
"China's push for localization and government support are also helping. Together, these factors are encouraging more companies to adopt alternative sources of memory supply, creating new business opportunities for these players," Huang added.
YMTC and CXMT did not respond to Nikkei Asia's requests for comment.
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CXMT has already successfully produced older-generation DDR4 and LPDDR4 products and has decided to migrate to more advanced DDR5-class DRAM. The company also aims to support domestic demand for HBM, as supplies have been cut off by U.S. restrictions.
At the end of 2025, it filed an initial public offering application to the Shanghai Stock Exchange, saying it aims to raise 29.5 billion yuan ($4.25 billion) for production line upgrades and research and development.
YMTC has also gained market share thanks to China's policy-driven demand for local supplies. Yole estimates that its share by wafer capacity is about 12% in 2025 and could expand to 15% by 2028.
"Chinese memory chipmakers are expanding capacity to meet surging demand, based on our supply-chain checks," said Gary Huang, head of Asia at Yole Group. "The global memory supply crunch has created a favorable environment for emerging players, giving them healthier financial conditions to support expansion," he said.
"China's push for localization and government support are also helping. Together, these factors are encouraging more companies to adopt alternative sources of memory supply, creating new business opportunities for these players," Huang added.
YMTC and CXMT did not respond to Nikkei Asia's requests for comment.
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Michael Fritzell (Asian Century Stocks)
RT @nothingbutjp: Accounting SaaS like MF or Freee or Yayoi just finally taking off with SaaS penetration % much lower than overseas - investors ask: why is it so low? And investors now saying: isn't AI going to replace SaaS? WTF. We haven't even SaaS'ed yet.
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RT @nothingbutjp: Accounting SaaS like MF or Freee or Yayoi just finally taking off with SaaS penetration % much lower than overseas - investors ask: why is it so low? And investors now saying: isn't AI going to replace SaaS? WTF. We haven't even SaaS'ed yet.
🇯🇵 ranks 67th out of 67 countries in “digital agility", or the degree of benefit in sales, profits & productivity from investments in "information & communications tech"
The primary use of such investments is to reduce the costs of doing the same tasks they’re already doing... tweet
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Schoebs (@willschoebs) on X
🇯🇵 ranks 67th out of 67 countries in “digital agility", or the degree of benefit in sales, profits & productivity from investments in "information & communications tech"
The primary use of such investments is to reduce the costs of doing the same tasks they’re…
The primary use of such investments is to reduce the costs of doing the same tasks they’re…
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Michael Fritzell (Asian Century Stocks)
Yesterday, someone came up to me on the MRT and asked which watch I was wearing (PRX). Has literally never happened before. Watch collecting is a secular trend.
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Yesterday, someone came up to me on the MRT and asked which watch I was wearing (PRX). Has literally never happened before. Watch collecting is a secular trend.
$MOV (Movado Group) - PASS for me.
The resurgence of analog watches this holiday season caught my eye. The exposure to the $TPR (Coach) trade via their licensed watches segment made me very interested (original thesis on Coach was shared in June 2024).
Positives:
• Strong holiday trend for analogs.
• Reduced tariffs on Swiss watches could provide a tailwind for Q4 margins.
• Comps are finally ticking up.
• Valuation: ~40% of MC is in cash with no debt.
Negatives:
• Lack of clear traction in their owned brand portfolio.
• Capital allocation remains a huge question mark. The Grinberg family is very conservative with cash usage.
• Grinbergs have majority voting shares, so activist action possibility to unlock value is low.
Despite the cheap valuation and macro tailwinds, I just can't build enough conviction to pull the trigger. Watching this one from the sidelines. Patient investors can probably make money on this one.
However, I am currently tracking a different name in the market where a major pop-culture catalyst is driving a structural demand spike while expectations are low. Still analyzing the sustainability, will share soon. tweet
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Jukan
China's CXMT and YMTC to massively expand memory output amid global crunch
- According to reporting by Nikkei Asia, China’s two major memory manufacturers view the global supply shortage as an opportunity for “emerging players” to catch up and are embarking on record-level aggressive capacity expansions. The increased production volume is highly likely to be used primarily to meet domestic demand within China.
- ChangXin Memory Technologies (CXMT), China’s largest DRAM maker, is currently expanding its Shanghai plant. Upon completion, its total production capacity is expected to be two to three times larger than that of its Hefei facility. The plant will produce DRAM for servers, PCs, and automobiles. Equipment move-in is reported to be around the second half of 2026, with mass production starting in 2027. Additionally, an expansion of HBM production lines is underway in Shanghai.
- Wuhan-based NAND manufacturer Yangtze Memory Technologies (YMTC) is constructing its third plant in Wuhan, targeting a production start in 2027. The company plans to allocate 50% of the new plant’s capacity to DRAM and is reportedly discussing cooperation with domestic packaging firms for HBM. Furthermore, according to official statements, they have found ways to produce using less advanced equipment, partially bypassing export controls, and there are even claims that they have finalized their own proprietary DRAM development.
- While YMTC previously had the possibility of supplying Apple, it faced setbacks after being added to the U.S. Entity List in 2022. Since then, it has regained growth momentum driven by China’s localization policies and favorable market conditions.
- According to Yole Group estimates, CXMT is the world’s fourth-largest DRAM maker following Samsung Electronics, SK Hynix, and Micron (with a market share of approximately 11.1% based on production capacity), which could expand to about 13.9% by 2027. The report also mentions that CXMT has secured major tech customers such as Alibaba Cloud and references documents from China International Capital Corporation (CICC).
- CXMT is pushing for a transition to DDR5-grade technology beyond DDR4/LPDDR4 and aims to support domestic HBM demand in China. The company is reported to be targeting a 29.5 billion yuan (approx. $4.25 billion) raise through an IPO on the Shanghai Stock Exchange.
- Estimates also suggest that YMTC’s NAND market share could expand from about 12% in 2025 to 15% by 2028. Gary Huang assessed that “the supply shortage favored emerging players, and the combination of financial conditions, localization, and government support is promoting the adoption of alternative supply sources.”
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China's CXMT and YMTC to massively expand memory output amid global crunch
- According to reporting by Nikkei Asia, China’s two major memory manufacturers view the global supply shortage as an opportunity for “emerging players” to catch up and are embarking on record-level aggressive capacity expansions. The increased production volume is highly likely to be used primarily to meet domestic demand within China.
- ChangXin Memory Technologies (CXMT), China’s largest DRAM maker, is currently expanding its Shanghai plant. Upon completion, its total production capacity is expected to be two to three times larger than that of its Hefei facility. The plant will produce DRAM for servers, PCs, and automobiles. Equipment move-in is reported to be around the second half of 2026, with mass production starting in 2027. Additionally, an expansion of HBM production lines is underway in Shanghai.
- Wuhan-based NAND manufacturer Yangtze Memory Technologies (YMTC) is constructing its third plant in Wuhan, targeting a production start in 2027. The company plans to allocate 50% of the new plant’s capacity to DRAM and is reportedly discussing cooperation with domestic packaging firms for HBM. Furthermore, according to official statements, they have found ways to produce using less advanced equipment, partially bypassing export controls, and there are even claims that they have finalized their own proprietary DRAM development.
- While YMTC previously had the possibility of supplying Apple, it faced setbacks after being added to the U.S. Entity List in 2022. Since then, it has regained growth momentum driven by China’s localization policies and favorable market conditions.
- According to Yole Group estimates, CXMT is the world’s fourth-largest DRAM maker following Samsung Electronics, SK Hynix, and Micron (with a market share of approximately 11.1% based on production capacity), which could expand to about 13.9% by 2027. The report also mentions that CXMT has secured major tech customers such as Alibaba Cloud and references documents from China International Capital Corporation (CICC).
- CXMT is pushing for a transition to DDR5-grade technology beyond DDR4/LPDDR4 and aims to support domestic HBM demand in China. The company is reported to be targeting a 29.5 billion yuan (approx. $4.25 billion) raise through an IPO on the Shanghai Stock Exchange.
- Estimates also suggest that YMTC’s NAND market share could expand from about 12% in 2025 to 15% by 2028. Gary Huang assessed that “the supply shortage favored emerging players, and the combination of financial conditions, localization, and government support is promoting the adoption of alternative supply sources.”
Here it comes. https://t.co/VQazHOHodp tweet
God of Prompt
RT @godofprompt: experiment idea: make a metaverse for openclaw agents
give them real human jobs, families, economy, governments
then introduce AI
automate all their jobs, make them homeless
see what they do then
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RT @godofprompt: experiment idea: make a metaverse for openclaw agents
give them real human jobs, families, economy, governments
then introduce AI
automate all their jobs, make them homeless
see what they do then
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God of Prompt
RT @free_ai_guides: Unpopular opinion: prompt engineering is dead.
What works now is prompt architecture.
Claude doesn't care how clever your words are.
It cares about structure. sections. hierarchy. containers.
The difference between mid output and elite output is literally just XML tags and clear formatting.
I have a template that handles all of it. you just fill in the blanks.
Comment "CLAUDE" and I'll DM it to you.
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RT @free_ai_guides: Unpopular opinion: prompt engineering is dead.
What works now is prompt architecture.
Claude doesn't care how clever your words are.
It cares about structure. sections. hierarchy. containers.
The difference between mid output and elite output is literally just XML tags and clear formatting.
I have a template that handles all of it. you just fill in the blanks.
Comment "CLAUDE" and I'll DM it to you.
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