About
A passion project by Alex Corrino.
Memory Analyst is an independent, “accurately bullish” look at whether high-bandwidth memory — not just compute — is the real constraint on the next phase of AI. One essay, one calculator, everything open to argue with.
What this is
Memory Analyst is a one-person passion project. The premise: high-bandwidth memory — not just accelerator compute — may be the binding constraint on the next phase of AI infrastructure. The full thesis lives in the essay, and every number behind it is open to poke at, change, and break in the calculator.
It’s written in the same voice as my markets newsletter, Mind The Tape — deliberately “accurately bullish”: bullish on the thesis, but honest about exactly what would prove it wrong.
Disclaimer & disclosures
Memory Analyst is an independent research site, written by one person for discussion, education, and frankly entertainment. It is not financial, investment, legal, tax, accounting, or procurement advice, it is not personalized to you, and it does not account for your objectives, risk tolerance, or situation. Nothing here is a recommendation, solicitation, or offer to buy or sell any security, private investment, memory product, GPU, contract, or related asset, and nothing creates an advisory, fiduciary, or client relationship. “Alex Corrino” writes independently on a best-effort, amateur basis and, in connection with this site, is not acting as a registered investment adviser, broker-dealer, or licensed professional. If you want advice, hire someone licensed to give it. This is for informational and entertainment purposes only.
Now the part that matters most: the author holds positions in some of the companies discussed here and may be long and/or short. The names that come up — Micron, SK hynix, Samsung, NVIDIA, AMD, and others — are examples of what gets covered, not a list of current holdings or any representation of what the author owns at a given moment. Positions, and those of family or related accounts, can change at any time without notice, and there is no obligation to disclose, update, or correct them. The author is not paid by, and has no affiliate or sponsorship relationship with, any company mentioned. Assume a real, built-in conflict of interest, assume the content may be self-serving, and read it that way.
The essay, calculator, charts, monitor, and model outputs are scenario analysis built from public information, estimates, simplifications, AI-assisted tools, and the assumptions you or the author happen to pick. They may be wrong, stale, incomplete, or internally inconsistent, and HBM supply, AI demand, model architecture, export controls, pricing, yields, packaging capacity, and serving efficiency all move fast. All of it is provided as-is, with no warranties of any kind and no duty of accuracy or completeness; content and the site itself may change or disappear at any time without notice. Forward-looking statements and estimates are guesses, not guarantees. Past performance and prior calls are not indicative of future results, any wins are not typical, and investing involves real risk, including the possible total loss of your money.
Do your own work, check the primary sources, and consult your own licensed financial, legal, and tax professionals before you act on anything; outside links and references are neither endorsed nor the author’s responsibility. Any decision you make is yours alone and made at your own risk. To the fullest extent permitted by law, the author is not liable for any loss or damage arising from your use of this site or reliance on it, and you agree to hold the author harmless from claims arising out of your use. This site is intended only where it is lawful to read it and is written from a US perspective. If any part of this is unenforceable, the rest still stands. Use at your own risk, etc.