India, July 10 -- One of the most widely discussed semiconductor reports came from SemiAnalysis, which argued that memory will account for more than 30% of Nvidia AI system spending by the end of 2026 and exceed 40% during 2027.

Their conclusion represents an important shift in how investors should think about artificial intelligence infrastructure. For years, GPUs dominated discussions surrounding AI hardware economics. SemiAnalysis correctly argues that memory is no longer a secondary consideration. It has become one of the largest cost elements inside next-generation AI systems.

I believe that conclusion is fundamentally correct. High-bandwidth memory has evolved from a supporting component into a strategic technology that increasing...