The hotter AI gets, the more storage profits? Why are more institutions firmly bullish on the storage chip outlook for the next two years?

The pace of AI development is redefining the storage industry.

Bernstein believes that the global storage chip cycle is likely to continue until 2027. This view is not simply based on rising chip prices, but on the enormous data demand brought by the AI era.

In the past, people thought computing power was the core of AI, but as model scales grow, the importance of data storage is steadily increasing. From training large models to inference applications, from cloud data centers to edge computing, every step relies on high-speed, high-capacity storage support.

In particular, high-end storage products like HBM have become a key component of AI servers. As more companies deploy artificial intelligence, related products face supply shortages, keeping prices high and significantly improving profitability across the storage industry.

At the same time, emerging industries such as smart cars, robotics, and smart terminals are also adopting more advanced storage solutions in large numbers. One industry grows, and multiple industries benefit simultaneously — this is the biggest difference between the current storage cycle and past ones.

Moreover, major global manufacturers are focusing more on profit management rather than blindly pursuing market share. Supply remains rational while demand continues to grow, bringing the industry into a relatively healthy development phase.

Of course, investors also need to stay rational. The tech industry changes rapidly — new technology substitution, demand fluctuations, and the international trade environment can all affect industry trends. Therefore, while being optimistic about the long-term trend, one must also watch for periodic volatility.

It can be said that AI has put an engine on computing power and opened up new growth space for storage. If data becomes the most important means of production in the future, the importance of storage chips will only increase. #伯恩斯坦称存储牛市可持续至2027年