Nanya Technology recently highlighted that clients are showing a growing propensity to enter into multi-year supply contracts for DRAM. This inclination suggests that the memory shortage is poised to extend at least until the end of 2026. The driving force behind this trend is the meteoric rise of AI applications, especially as AI evolves to possess 'agent' functionalities, which has triggered a sharp uptick in the demand for DRAM chips. AI servers, in particular, demand a substantial amount of DRAM—8 to 10 times more than traditional servers—intensifying the already strained supply-demand dynamics in the market. Concurrently, the three leading DRAM producers have redirected their production capacities towards high-margin products like HBM and DDR5. This strategic shift has further tightened the supply of consumer-grade DRAM. Manufacturers, including Micron, have also issued warnings that the memory shortage could extend beyond 2026. They anticipate that significant new capacity will not come online until at least 2028.