In their most recent report, analysts from Nomura highlighted that the market's apprehensions regarding a 'computing power glut' might be overblown, given that the memory chip sector is still a considerable distance from entering a downturn cycle. Presently, the market is grappling with acute shortages, primarily fueled by the burgeoning demand for artificial intelligence. Chip manufacturers are prioritizing the production of high-margin High Bandwidth Memory (HBM), which has consequently tightened the supply of traditional DRAM and NAND chips. The analysts underscored that the semiconductor industry is characterized by a protracted construction and development timeline. Consequently, investment projects unveiled by Korean chip behemoths may not significantly influence supply for several years to come. For example, a project initiated by SK Hynix nine years prior has yet to achieve full-scale production, with only modest production volumes anticipated by the end of 2027. Thus, the prevailing market concerns about an impending supply surplus are exaggerated.