23 September 2026 US Technology Equities Key takeaways from our Silicon Valley tech tour United States We held meetings with 27 tech companies in Silicon Valley, along with a group of investors, across five days. We highlight the key takeaways from these meetings in this note. Supply chain bottlenecks to persist through 2027 at least: There is a broad, AI- led supply crunch rather than a single isolated constraint. Demand continues to run ahead of supply across much of the semiconductor and data center ecos ...

Global Memory Equities China DRAM becoming a real threat? Korea/US China threat re-emerging: Memory share prices fell in the past 2 days on news that Chinese DRAM makers are catching up, breaking up the DRAM oligopoly. According to Maeil (12 Oct), CXMT will complete development of 4F2 cell structure-based server DRAM (from 6F2 ) in late 2026, 2-3 years earlier than Korean makers, which are planning to adopt 4F2 VCT (vertical channel transistor) structure from 2028e at 10a or 10b while Micron heads directly ...