Profile - To The Moon

Invests no gambling

Posts · 3Posts · 3
Following · 0Following · 0
Followers · 0Followers · 0

- Invests no gamblingInvests no gambling
  ·06-16
  Good
  Citrini: AMD and Apple are both betting on flash memory to replace DRAM, potentially reducing memory costs by 55 times.
  面对DRAM暴涨，AI存储向低成本闪存转移。AMD收购MEXT将AI驱动闪存技术引入数据中心，苹果推进端侧闪存方案。巨头看重闪存成本仅为DRAM的1/55，正重构AI存储架构。
  Citrini: AMD and Apple are both betting on flash memory to replace DRAM, potentially reducing memory costs by 55 times.
  1.72K Comment
  1
  Share
  Report
- Invests no gamblingInvests no gambling
  ·05-18
  😉
  The largest IPO in history! Musk: Hopes to advance SpaceX's IPO "soon"
  5月18日，马斯克表示，他希望“很快”推进SpaceX的首次公开募股（IPO）。此前消息，SpaceX正大幅加快IPO进程。原定于6月下旬（马斯克生日前后）的上市计划，现已调整为最早于下周三（5月20日）公开招股说明书，6月4日启动路演，6月11日确定发行价格，最早于6月12日正式挂牌交易，股票代码为“SPCX”。知情人士透露，美国证券交易委员会（SEC）对公司IPO文件的审查进度快于预期，是此次上市时间表提前的主要原因。
  The largest IPO in history! Musk: Hopes to advance SpaceX's IPO "soon"
  1.67K Comment
  1
  Share
  Report

Most Discussed

{"i18n":{"language":"en_US"},"isCurrentUser":false,"userPageInfo":{"id":"4204818795581912","uuid":"4204818795581912","gmtCreate":1741715617480,"gmtModify":1779103883111,"name":"Invests no gambling","pinyin":"investsnogamblinginvestsnogambling","introduction":"","introductionEn":null,"signature":"","avatar":"https://community-static.tradeup.com/news/36fa51bb4b75c0adc6108bf97e8a90fe","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":0,"headSize":1,"tweetSize":3,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-1","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Debut Tiger","description":"Join the tiger community for 500 days","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.07.26","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.05.22","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":2,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":1,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"page":1,"watchlist":null,"tweetList":[{"id":575869390493288,"gmtCreate":1781601401044,"gmtModify":1781604069945,"author":{"id":"4204818795581912","authorId":"4204818795581912","name":"Invests no gambling","avatar":"https://community-static.tradeup.com/news/36fa51bb4b75c0adc6108bf97e8a90fe","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4204818795581912","idStr":"4204818795581912"},"themes":[],"title":"","htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/575869390493288","repostId":"2643373567","repostType":2,"repost":{"id":"2643373567","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1781599906,"share":"https://ttm.financial/m/news/2643373567?lang=en_US&edition=fundamental","pubTime":"2026-06-16 16:51","market":"sg","language":"zh","title":"Citrini: AMD and Apple are both betting on flash memory to replace DRAM, potentially reducing memory costs by 55 times.","url":"https://stock-news.laohu8.com/highlight/detail?id=2643373567","media":"华尔街见闻","summary":"面对DRAM暴涨，AI存储向低成本闪存转移。AMD收购MEXT将AI驱动闪存技术引入数据中心，苹果推进端侧闪存方案。巨头看重闪存成本仅为DRAM的1/55，正重构AI存储架构。","content":"<p><html><head></head><body><p style=\"text-align: left;\">AI inference's reliance on expensive DRAM is loosening.<a href=\"https://laohu8.com/S/AMD\">AMD</a>Announced the acquisition of memory optimization company MEXT, bringing AI-driven flash optimization technology to data centers. This signifies that AI storage architectures are undergoing a structural migration, and the core driving force is only one number:<strong>Flash memory costs only 1/55 of DRAM.</strong></p><p><p style=\"text-align: left;\">On Monday, AMD announced the completion of its acquisition of MEXT for an undisclosed amount. MEXT's AI-driven predictive memory technology aims to make flash memory behave more closely to DRAM, expanding available memory capacity while maintaining performance and efficiency. AMD stated that the acquisition will expand its AI product portfolio, helping data center customers improve performance, reduce total cost of ownership, and accelerate workload deployment. \"Demand for memory is growing in every category of enterprise computing,\" AMD said in a statement.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a86b38617b68e608382e6d8db9bf1389\" data-align=\"center\" tg-width=\"1024\" tg-height=\"755\"/><span></span></p><p><p style=\"text-align: left;\">The acquisition news boosted AMD's stock price by 7.7% to $550.75 on Monday, bringing its market capitalization close to the $900 billion mark. The S&P 500 index rose 1.8% overall that day. AMD's stock price has risen by 323% year-to-date. Citigroup upgraded its rating on AMD from neutral to buy last Friday, and raised its price target from $460 to $575.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/fe5a732905489dfc96d3c249e9bea543\" data-align=\"center\" tg-width=\"882\" tg-height=\"984\"/><span></span></p><p><p style=\"text-align: left;\">It is worth noting that,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The \"LLM in a Flash\" edge solution was launched as early as 2024. Behind this move lies an intensifying DRAM supply crisis. According to TrendForce data, high-bandwidth memory (HBM) now accounts for about a quarter of all DRAM wafer capacity, and DRAM contract prices surged by about 90% quarter-on-quarter in the first quarter of 2026. Citrine Research pointed out,<strong>The demand for AI storage has become so great that it requires a multi-tiered architecture to support it. Flash memory does not replace HBM, but rather addresses overflow demands in terms of capacity.</strong>—This restructuring is repricing the entire AI storage industry chain.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/7db9e832d1e323bc33ae1b899213dd97\" data-align=\"center\" tg-width=\"1024\" tg-height=\"825\"/><span></span></p><p><h2 style=\"text-align: left;\">Memory tax crisis: Bottlenecks spread from AI to the entire economy</h2><p style=\"text-align: left;\">according to<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Analyst Shawn Kim's team's assessment earlier this month,<strong>Soaring memory prices and supply shortages are evolving into a comprehensive risk to the digital economy.</strong>\"From bottlenecks in AI infrastructure to hardware profit margins, device affordability, cloud costs, inflation, and even policy.\" This pressure has been evidenced by specific cases: Xbox CEO Asha Sharma said last week that memory costs have increased about fivefold in the past two years, preventing the company from producing the number of game consoles consumers need.</p><p><p style=\"text-align: left;\">HBM's continued erosion of DRAM production capacity is the core driver of this crisis. According to TrendForce and<a href=\"https://laohu8.com/S/SMSN.UK\">Samsung</a>,SK Hynix,<a href=\"https://laohu8.com/S/MU\">Micron</a>According to data disclosed by other manufacturers, HBM's share of DRAM wafer production capacity has climbed from 2% in 2020 to an estimated 25% in 2026. Massive cloud vendors are pre-purchasing future wafer output under multi-year contracts, further reducing the available capacity of standard chips for mobile phones and PCs.</p><p><p style=\"text-align: left;\">The construction of new DRAM production capacity also faces structural constraints. Capacity expansion relies on EUV lithography printing for finer linewidths, with each EUV unit costing approximately $200 million. The investment in a new wafer fab is often...<a href=\"https://laohu8.com/S/SBAY\">Tens of billions</a>In US dollars, the construction period would take several years even under smooth conditions. This supply rigidity is the fundamental reason why this round of shortages is sustainable.</p><p><h2 style=\"text-align: left;\">55-fold cost difference: the economic logic of flash memory substitution</h2><p style=\"text-align: left;\">According to Citrini Research,<strong>Flash memory costs about 1/55 of DRAM per bit—QLC NAND is about $0.05 per GB, DDR5 DRAM is about $2.75, and HBM3E is as high as $15.</strong>The potential for this price difference lies in the fact that the largest single memory consumption in AI inference—the KV cache (which records all previously marked contexts in each generation step of the model and can grow to hundreds of GB in long conversations)—requires far less reading speed than the decoding path of the model weights. For this type of sequential data reading, the speed advantage of DRAM is significantly reduced, while the capacity advantage of flash memory is fully demonstrated.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/8f9b061541f243d013842840b2a9af30\" data-align=\"center\" tg-width=\"1024\" tg-height=\"671\"/><span></span></p><p><p style=\"text-align: left;\">The expansion path of flash memory is also fundamentally different from that of DRAM. Flash memory increases capacity by vertically stacking more cell layers, relies on existing deposition and etching processes in existing factories, eliminates the need for new lithography nodes, and does not consume EUV resources. Flash memory controllers are manufactured based on proven 6/7 nanometer processes, away from the bottlenecks that are constraining advanced processes.</p><p><p style=\"text-align: left;\">A previous paper by Apple researchers, \"LLM in a Flash,\" provides methodological support: by storing large language model parameters in the device's Flash memory and retrieving them to DRAM on demand, models exceeding their capacity limit can be run on devices with limited DRAM capacity, and inference speeds can be achieved on the CPU and GPU, respectively, 4 to 5 times faster and 20 to 25 times faster than the simple loading method.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/1b87a29aa7ba0ff023c247b4f54e9951\" data-align=\"center\" tg-width=\"1024\" tg-height=\"630\"/><span></span></p><p><h2 style=\"text-align: left;\">Two paths: Synchronous evolution between the data center and the edge</h2><p style=\"text-align: left;\">AMD's acquisition focuses on the data center scenario. By integrating MEXT technology into AMD's data center portfolio, AMD seeks to help enterprise customers improve resource efficiency and reduce costs in AI workload deployments. Morgan Stanley's Shawn Kim team believes that despite persistent memory shortages, AMD still has a structural advantage in the cloud market competition—\"Agent-driven AI-driven CPU demand is structurally beneficial for AMD's expansion of its cloud market share.\" Citi's optimistic forecast for AMD is more based on its GPU sales and...<a href=\"https://laohu8.com/S/NVDA\">NVIDIA</a>A positive competitive landscape.</p><p><p style=\"text-align: left;\">Apple's path, on the other hand, falls on the device side. The \"LLM in a Flash\" solution transfers the reliance of model inference on expensive cloud memory to the device's local Flash memory, reducing cloud computing costs while providing viable memory architecture support for edge AI applications.</p><p><p style=\"text-align: left;\">According to Citrini Research, both paths lead to the same conclusion:<strong>The memory layer of AI inference is being restructured. Low-frequency KV cache, model weights, and edge data will gradually sink from the expensive HBM/DRAM layer to the NAND Flash/SSD layer, forming a multi-tiered storage architecture.</strong></p><p><p style=\"text-align: left;\">This structural shift is creating a multi-layered transmission effect along the industrial chain. According to Citrini Research, the most direct beneficiaries are NAND manufacturers, with high-capacity NAND, enterprise-grade SSDs, and QLC NAND being the purest directions, including SanDisk,<a href=\"https://laohu8.com/S/WDC\">Western Data</a>Micron and Kioxia.</p><p><p style=\"text-align: left;\">The SSD controller layer is considered the most durable—the core of truly bringing flash memory closer to the memory experience lies in controller, firmware, and NVMe architecture optimization, involving...<a href=\"https://laohu8.com/S/SIMO\">Silicon Motion</a>, Marvell et al. The CXL/PCIe high-speed interconnect layer also benefits.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Citrini: AMD and Apple are both betting on flash memory to replace DRAM, potentially reducing memory costs by 55 times.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCitrini: AMD and Apple are both betting on flash memory to replace DRAM, potentially reducing memory costs by 55 times.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2026-06-16 16:51</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><p style=\"text-align: left;\">AI inference's reliance on expensive DRAM is loosening.<a href=\"https://laohu8.com/S/AMD\">AMD</a>Announced the acquisition of memory optimization company MEXT, bringing AI-driven flash optimization technology to data centers. This signifies that AI storage architectures are undergoing a structural migration, and the core driving force is only one number:<strong>Flash memory costs only 1/55 of DRAM.</strong></p><p><p style=\"text-align: left;\">On Monday, AMD announced the completion of its acquisition of MEXT for an undisclosed amount. MEXT's AI-driven predictive memory technology aims to make flash memory behave more closely to DRAM, expanding available memory capacity while maintaining performance and efficiency. AMD stated that the acquisition will expand its AI product portfolio, helping data center customers improve performance, reduce total cost of ownership, and accelerate workload deployment. \"Demand for memory is growing in every category of enterprise computing,\" AMD said in a statement.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a86b38617b68e608382e6d8db9bf1389\" data-align=\"center\" tg-width=\"1024\" tg-height=\"755\"/><span></span></p><p><p style=\"text-align: left;\">The acquisition news boosted AMD's stock price by 7.7% to $550.75 on Monday, bringing its market capitalization close to the $900 billion mark. The S&P 500 index rose 1.8% overall that day. AMD's stock price has risen by 323% year-to-date. Citigroup upgraded its rating on AMD from neutral to buy last Friday, and raised its price target from $460 to $575.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/fe5a732905489dfc96d3c249e9bea543\" data-align=\"center\" tg-width=\"882\" tg-height=\"984\"/><span></span></p><p><p style=\"text-align: left;\">It is worth noting that,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The \"LLM in a Flash\" edge solution was launched as early as 2024. Behind this move lies an intensifying DRAM supply crisis. According to TrendForce data, high-bandwidth memory (HBM) now accounts for about a quarter of all DRAM wafer capacity, and DRAM contract prices surged by about 90% quarter-on-quarter in the first quarter of 2026. Citrine Research pointed out,<strong>The demand for AI storage has become so great that it requires a multi-tiered architecture to support it. Flash memory does not replace HBM, but rather addresses overflow demands in terms of capacity.</strong>—This restructuring is repricing the entire AI storage industry chain.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/7db9e832d1e323bc33ae1b899213dd97\" data-align=\"center\" tg-width=\"1024\" tg-height=\"825\"/><span></span></p><p><h2 style=\"text-align: left;\">Memory tax crisis: Bottlenecks spread from AI to the entire economy</h2><p style=\"text-align: left;\">according to<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Analyst Shawn Kim's team's assessment earlier this month,<strong>Soaring memory prices and supply shortages are evolving into a comprehensive risk to the digital economy.</strong>\"From bottlenecks in AI infrastructure to hardware profit margins, device affordability, cloud costs, inflation, and even policy.\" This pressure has been evidenced by specific cases: Xbox CEO Asha Sharma said last week that memory costs have increased about fivefold in the past two years, preventing the company from producing the number of game consoles consumers need.</p><p><p style=\"text-align: left;\">HBM's continued erosion of DRAM production capacity is the core driver of this crisis. According to TrendForce and<a href=\"https://laohu8.com/S/SMSN.UK\">Samsung</a>,SK Hynix,<a href=\"https://laohu8.com/S/MU\">Micron</a>According to data disclosed by other manufacturers, HBM's share of DRAM wafer production capacity has climbed from 2% in 2020 to an estimated 25% in 2026. Massive cloud vendors are pre-purchasing future wafer output under multi-year contracts, further reducing the available capacity of standard chips for mobile phones and PCs.</p><p><p style=\"text-align: left;\">The construction of new DRAM production capacity also faces structural constraints. Capacity expansion relies on EUV lithography printing for finer linewidths, with each EUV unit costing approximately $200 million. The investment in a new wafer fab is often...<a href=\"https://laohu8.com/S/SBAY\">Tens of billions</a>In US dollars, the construction period would take several years even under smooth conditions. This supply rigidity is the fundamental reason why this round of shortages is sustainable.</p><p><h2 style=\"text-align: left;\">55-fold cost difference: the economic logic of flash memory substitution</h2><p style=\"text-align: left;\">According to Citrini Research,<strong>Flash memory costs about 1/55 of DRAM per bit—QLC NAND is about $0.05 per GB, DDR5 DRAM is about $2.75, and HBM3E is as high as $15.</strong>The potential for this price difference lies in the fact that the largest single memory consumption in AI inference—the KV cache (which records all previously marked contexts in each generation step of the model and can grow to hundreds of GB in long conversations)—requires far less reading speed than the decoding path of the model weights. For this type of sequential data reading, the speed advantage of DRAM is significantly reduced, while the capacity advantage of flash memory is fully demonstrated.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/8f9b061541f243d013842840b2a9af30\" data-align=\"center\" tg-width=\"1024\" tg-height=\"671\"/><span></span></p><p><p style=\"text-align: left;\">The expansion path of flash memory is also fundamentally different from that of DRAM. Flash memory increases capacity by vertically stacking more cell layers, relies on existing deposition and etching processes in existing factories, eliminates the need for new lithography nodes, and does not consume EUV resources. Flash memory controllers are manufactured based on proven 6/7 nanometer processes, away from the bottlenecks that are constraining advanced processes.</p><p><p style=\"text-align: left;\">A previous paper by Apple researchers, \"LLM in a Flash,\" provides methodological support: by storing large language model parameters in the device's Flash memory and retrieving them to DRAM on demand, models exceeding their capacity limit can be run on devices with limited DRAM capacity, and inference speeds can be achieved on the CPU and GPU, respectively, 4 to 5 times faster and 20 to 25 times faster than the simple loading method.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/1b87a29aa7ba0ff023c247b4f54e9951\" data-align=\"center\" tg-width=\"1024\" tg-height=\"630\"/><span></span></p><p><h2 style=\"text-align: left;\">Two paths: Synchronous evolution between the data center and the edge</h2><p style=\"text-align: left;\">AMD's acquisition focuses on the data center scenario. By integrating MEXT technology into AMD's data center portfolio, AMD seeks to help enterprise customers improve resource efficiency and reduce costs in AI workload deployments. Morgan Stanley's Shawn Kim team believes that despite persistent memory shortages, AMD still has a structural advantage in the cloud market competition—\"Agent-driven AI-driven CPU demand is structurally beneficial for AMD's expansion of its cloud market share.\" Citi's optimistic forecast for AMD is more based on its GPU sales and...<a href=\"https://laohu8.com/S/NVDA\">NVIDIA</a>A positive competitive landscape.</p><p><p style=\"text-align: left;\">Apple's path, on the other hand, falls on the device side. The \"LLM in a Flash\" solution transfers the reliance of model inference on expensive cloud memory to the device's local Flash memory, reducing cloud computing costs while providing viable memory architecture support for edge AI applications.</p><p><p style=\"text-align: left;\">According to Citrini Research, both paths lead to the same conclusion:<strong>The memory layer of AI inference is being restructured. Low-frequency KV cache, model weights, and edge data will gradually sink from the expensive HBM/DRAM layer to the NAND Flash/SSD layer, forming a multi-tiered storage architecture.</strong></p><p><p style=\"text-align: left;\">This structural shift is creating a multi-layered transmission effect along the industrial chain. According to Citrini Research, the most direct beneficiaries are NAND manufacturers, with high-capacity NAND, enterprise-grade SSDs, and QLC NAND being the purest directions, including SanDisk,<a href=\"https://laohu8.com/S/WDC\">Western Data</a>Micron and Kioxia.</p><p><p style=\"text-align: left;\">The SSD controller layer is considered the most durable—the core of truly bringing flash memory closer to the memory experience lies in controller, firmware, and NVMe architecture optimization, involving...<a href=\"https://laohu8.com/S/SIMO\">Silicon Motion</a>, Marvell et al. The CXL/PCIe high-speed interconnect layer also benefits.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a86b38617b68e608382e6d8db9bf1389","relate_stocks":{"LU2452424414.USD":"BGF ESG MULTI-ASSET \"A10\" (USDHDG) INC","SG9999014542.SGD":"United Income Focus Trust Acc SGD","LU0057025933.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (USD) ACC","LU0784385170.HKD":"BGF GLOBAL MULTI ASSET INCOME \"A6\" (HKDHGD) INC","LU1989771016.USD":"东方汇理环球老龄化投资基金 A2 Acc","LU0784385840.USD":"Blackrock Global Multi-Asset Income A2 USD","LU2063271972.USD":"富兰克林创新领域基金","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0345768153.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU2237443895.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU0557290698.USD":"施罗德环球可持续增长基金","LU1934455277.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"AD\" (USD) INC","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","LU2242650005.HKD":"FIDELITY FUNDS GLOBAL MULTI ASSET DYNAMIC \"A\" (HKD) ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1119994496.HKD":"FIDELITY WORLD \"A\" (HKD) ACC","LU1116320737.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (USD) INC","LU1791710582.SGD":"Fidelity Global Demographics A-ACC-SGD (SGD/USD hedged)","LU1934455194.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (USD) ACC","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","LU1791710400.SGD":"Fidelity Global Demographics A-ACC-SGD","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","BK4585":"ETF&股票定投概念","LU0056508442.USD":"贝莱德世界科技基金A2","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","SG9999001424.SGD":"United E-Commerce Fund SGD","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU1116320901.HKD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) INC","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","BK4588":"碎股","LU1232071149.USD":"AZ FUND 1 GLOBAL GROWTH SELECTOR \"AAZ\" (USDHDG) ACC","LU0724617625.USD":"BGF GLOBAL ALLOCATION \"A4\" (USD) INC","LU0210533765.USD":"JPM GLOBAL GROWTH \"A\" (USD) ACC","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","LU0788109477.HKD":"BGF GLOBAL ALLOCATION \"A2\" (HKDHGD) ACC","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU1301847155.USD":"BGF GLOBAL MULTI-ASSET INCOME FUND \"A4G\" (USD) INC","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU0726765562.USD":"JPM GLOBAL INCOME \"A\" (USD HEDGED) INC","LU1235294995.USD":"FIDELITY GLOBAL TECHNOLOGY \"A\" (USDHDG) ACC","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU1303367103.USD":"摩根大通多经理另类基金 A (acc)","LU2381873111.SGD":"BGF SYSTEMATIC GLOBAL EQUITY HIGH INCOME \"A6\" (SGDHDG) INC","LU2347655073.USD":"JPM GLOBAL INCOME \"A\" (USDHDG) INC A","LU1206712785.SGD":"Aviva Investors - Multi-Strategy Target Return Ah SGD","LU2098885051.SGD":"JPMorgan Funds - Multi-Manager Alternatives A (acc) SGD","LU2097344431.USD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (USDHDG) INC","LU0070217475.USD":"JPM GLOBAL SELECT EQUITY \"A\" ACC","LU1880398554.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) INC","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","LU2097344357.USD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (USDHDG) ACC","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU1206713676.USD":"Aviva Investors - Multi-Strategy Target Return Ah USD","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","LU1267930573.SGD":"TEMPLETON GLOBAL \"AA\" (SGD) ACC A","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","IE000F7OJYX1.SGD":"RQI GLOBAL \"I\" (SGDHDG) INC","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","IE0000B7K699.USD":"RQI GLOBAL \"I\" (USD) INC","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","IE000BZT7R73.USD":"RQI GLOBAL \"I\" (USD) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","BK4571":"数字音乐概念","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","IE000MB6IJN5.SGD":"RQI GLOBAL \"I\" (SGD) ACC","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","SG9999014906.USD":"大华全球优质成长基金Acc USD","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","BK4576":"AR","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","BK4575":"芯片概念","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","LU2746668461.USD":"MANULIFE DYNAMIC LEADERS \"AA\" (USD) ACC","LU2271345857.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (HKD) ACC","LU1291159041.SGD":"CPR Invest - Global Silver Age A2 Acc SGD-H","LU1582986433.USD":"M&G (LUX) INCOME ALLOCATION \"A-H\" (USDHDG) INC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0314106906.USD":"MANULIFE GF GLOBAL EQUITY \"AA\" (USD) INC","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","BK4579":"人工智能","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","BK4574":"无人驾驶","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","LU2746668974.SGD":"MANULIFE DYNAMIC LEADERS \"AA\" (SGDHDG) ACC","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","BK4573":"虚拟现实","IE000WAW04H5.SGD":"RQI GLOBAL \"I\" (SGD) INC A","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","SG9999002232.USD":"Allianz Global High Payout USD","BK4581":"高盛持仓","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","SG9999002224.SGD":"Allianz Global High Payout SGD","SG9999015341.SGD":"United Income Focus Trust Acc SGD-H","IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","IE000SO60NU8.SGD":"RQI GLOBAL \"I\" (SGDHDG) ACC A","LU1127390331.HKD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A\" (HKD) ACC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU1934455863.HKD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (HKD) ACC","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","LU0949170426.SGD":"Blackrock Global Multi-Asset Income A6 SGD-H","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0784384876.USD":"Blackrock Global Multi-Asset Income A6 USD","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","IE00BYXW3230.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"AA\" (USD) ACC","LU1046421795.USD":"富达环球科技A-ACC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU2355687059.USD":"NORDEA 1 GLOBAL IMPACT  \"BP\" (USD) ACC","LU0965508806.USD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","LU2065170008.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) INC","AAPL":"苹果","LU0238689110.USD":"贝莱德环球动力股票基金","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","LU1582987324.SGD":"M&G (LUX) INCOME ALLOCATION \"A-H\" (SGDHDG) ACC","LU0072462426.USD":"贝莱德全球配置 A2","LU1582987597.SGD":"M&G (LUX) INCOME ALLOCATION \"A-H\" (SGDHDG) INC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","IE0001KFT4U8.USD":"FTGF CLEARBRIDGE GLOBAL GROWTH LEADERS \"A\" (USD) INC","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","LU2860962120.EUR":"CPR INVEST - ARTIFICIAL INTELLIGENCE \"A2\" (EUR) ACC A","HK0000819398.USD":"BLACKROCK PREMIER SYSTEMATIC GLOBAL EQUITY HIGH INCOME FUND A10 (USD)INC","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU2191332357.HKD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (HKDHDG) INC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU1823568750.SGD":"Fidelity Global Technology A-ACC SGD","LU2065171311.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU2065171402.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","HK0000532082.HKD":"ALLIANZ SELECTION INCOME AND GROWTH \"AM\" (HKD) INC","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH  \"AG\" (USD) ACC","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","BK4566":"资本集团","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU1935042215.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (USD) INC A","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU0823434583.USD":"BNP PARIBAS US GROWTH \"C\" (USD) ACC","LU0109392836.USD":"富兰克林科技股A","LU0210536198.USD":"JPM US GROWTH \"A\" ACC","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","HK0000914686.HKD":"GFI Global Select Equity Fund Class A (HKD)","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU0823434740.USD":"BNP PARIBAS US GROWTH \"C\" (USD) INC","LU2896262040.SGD":"JPM US GROWTH FUND \"A\" (SGD) ACC","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","HK0000914660.USD":"GFI Global Select Equity Fund Class A (USD)","LU0143551892.USD":"T ROWE PRICE GLOBAL FOCUSED GROWTH EQUITY \"A\" (USD) ACC","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","LU1732800096.USD":"摩根大通环球收益基金A (irc)","LU2462591277.SGD":"TRP GLOBAL FOCUSED GROWTH EQUITY \"AN\" (SGDHDG) ACC","LU2954938101.SGD":"T ROWE PRICE GLOBAL FOCUSED GROWTH EQUITY \"A8P\" (SGD) INC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) ACC","LU0210528500.USD":"JPM AMERICA EQUITY \"A\" ACC","LU0444971666.USD":"天利全球科技基金","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","LU2999663052.SGD":"T ROWE PRICE GLOBAL FOCUSED GROWTH EQUITY \"A4P\" (SGD) INC","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","IE00B4YYXB79.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) ACC","LU1506573853.SGD":"MANULIFE GF GLOBAL EQUITY \"AA\" (SGD) INC","AMDD":"1倍做空AMD ETF-Direxion","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","AMDG":"2倍做多AMD ETF- Leverage Shares","LU0689626769.HKD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (HKD) ACC","LU0965509101.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (SGDHDG) ACC","LU2047632596.USD":"T.ROWE MULTI-ASSET GLOBAL INCOME \"A\" (USD) ACC","AMDL":"2倍做多AMD ETF-GraniteShares","LU2100268510.USD":"T.ROWE MULTI-ASSET GLOBAL INCOME \"AX\" (USD) INC","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (SGDHDG) INC","LU3102509885.SGD":"T.ROWE MULTI-ASSET GLOBAL INCOME \"A8P\" (SGDHDG) INC","LU1935042488.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (USD) INC","AMDS":"GRANITESHARES 1X SHORT AMD DAILY ETF","AMDU":"Defiance Leveraged Long + Income AMD ETF","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU0203202063.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A2X\" (USD) ACC","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","AMDW":"Roundhill AMD WeeklyPay ETF","AMDY":"AMD期权收益策略ETF-YieldMax","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","LU0203201768.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"AX\" (USD) INC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU0158827781.USD":" ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (USD) ACC","LU1699723380.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"AP\" (USD) ACC","BK4543":"AI","LU0882574139.USD":"富达环球消费行业基金A ACC","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","SG9999015978.USD":"利安颠覆性创新基金A","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","LU0133085943.USD":"T ROWE PRICE US BLUE CHIP EQUITY \"A\" ACC","BK4515":"5G概念","BK4592":"伊斯兰概念","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU0174119429.USD":"T ROWE PRICE US LARGE CAP GROWTH EQUITY \"A\" ACC","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU2462591350.SGD":"T ROWE PRICE US LARGE CAP GROWTH EQUITY \"AN\" (SGDHDG) ACC","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","LU0784383803.USD":"BGF GLOBAL MULTI-ASSET INCOME FUND \"A\" (USD) INC A","LU1037948897.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (HKD) INC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU1037948541.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (HKD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","SG9999014575.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USDHDG) INC","BK4554":"元宇宙及AR概念","IE00BDRTCR15.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC A","BK4553":"喜马拉雅资本持仓","LU2637965513.SGD":"BGF GLOBAL ALLOCATION \"A10\" (SGDHDG) INC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","DAMD":"2倍做空AMD ETF-Defiance","LU2403377893.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AM\" (USD) INC","LU0215105999.USD":"SCHRODER ISF GLOBAL EQUITY \"A\" ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU1261432733.SGD":"Fidelity World A-ACC-SGD","AMD":"美国超微公司","LU2092937148.SGD":"Blackrock ESG Multi-Asset A8 SGD-H","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","AMUU":"2倍做多AMD ETF-Direxion","BK4559":"巴菲特持仓","LU2111349929.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) INC","LU2092627202.USD":"Blackrock ESG Multi-Asset A8 USD-H","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","SG9999014559.SGD":"United Income Focus Trust Dis SGD","BK4550":"红杉资本持仓","LU2077746001.SGD":"Blackrock ESG Multi-Asset A2 SGD-H","AMYY":"GraniteShares YieldBOOST AMD ETF","BK4170":"电脑硬件、储存设备及电脑周边","SG9999014567.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USD) ACC","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU2237443465.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","LU0310800379.SGD":"FTIF - Templeton Global A Acc SGD","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","BK4598":"佩洛西持仓","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","SG9999015358.SGD":"United Income Focus Trust Dis SGD-H","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","LU0080751232.USD":"富达环球多元动力基金A","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","BK4529":"IDC概念","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE000Q6AESB8.SGD":"PIMCO BALANCED INCOME AND GROWTH \"A\" (SGDHDG) INC","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU1069344957.HKD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","BK4605":"半导体精选","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","LU2087625088.SGD":"ALLSPRING  US ALL CAP GROWTH \"A\" (SGDHDG) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU0494093205.USD":"贝莱德ESG灵活多元资产A2 USD-H","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU1548497426.USD":"安联环球人工智能AT Acc","BK4527":"明星科技股","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","BK4612":"AI芯片","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","LU0345768740.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) INC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","BK4614":"Manus概念股","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","BK4532":"文艺复兴科技持仓","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU2083900584.USD":"HSBC GIF US INCOME FOCUSED \"AM2\" (USD) INC","LU0079474960.USD":"联博美国增长基金A","LU1066051811.HKD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (HKD) INC","IE00B3SWFQ91.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) INC","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","LU2361044949.HKD":"WELLINGTON US QUALITY GROWTH \"A\" (HKD) ACC","LU2242649171.HKD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (HKD) ACC","LU0472753341.HKD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (HKD) ACC","BK4534":"瑞士信贷持仓","BK4141":"半导体产品","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","LU1880398471.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) ACC","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU0124676726.USD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (USD) ACC","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","APLY":"AAPL期权收益策略ETF-YieldMax","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","LU0528227936.USD":"富达环球人口趋势基金A-ACC","LU2028103732.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AMG\" (USD) INC","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0048584097.USD":"FIDELITY FUNDS  GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) INC","LU0097036916.USD":"贝莱德美国增长A2 USD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","IE0009G5SDU7.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) INC","IE000ITXATA3.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) ACC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","IE000YTNTUN2.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG)INC","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","IE00BDCRKT87.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC","AAPB":"2倍做多AAPL ETF-GraniteShares","BK4507":"流媒体概念","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","AAPD":"1倍做空AAPL ETF-Direxion","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","LU2420271590.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AT\" (USD) ACC","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU0096362180.USD":"CT (LUX) I GLOBAL FOCUS \"DU\" (USD)","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","AAPU":"2倍做多AAPL ETF-Direxion","BK4501":"段永平概念","LU2471134952.CNY":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (CNYHDG) INC","LU2552382058.USD":"WELLINGTON US BRAND POWER \"A\" (USD) ACC","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","AAPW":"AAPL周配息ETF-Roundhill","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","LU0795875086.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD","LU2471134879.HKD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (HKD) INC","AAPX":"2倍做多Apple ETF-T-Rex","LU0823421333.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) ACC","LU0823421416.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) INC","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","AAPY":"AAPL收益溢价策略ETF-Kurv","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","LU0861579265.USD":"联博低波幅策略股票基金A","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU2247934214.USD":"FIDELITY FUNDS SUSTAINABLE FUTURE CONNECTIVITY \"A\" (USD) ACC","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","BK4505":"高瓴资本持仓","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","LU2023251221.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (USD) INC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU1582986359.USD":"M&G (LUX) INCOME ALLOCATION \"A-H\" (USDHDG) ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","LU0069063385.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (USD) ACC","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","LU2065169927.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) ACC","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU1778281490.HKD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (HKD) INC","LU2168564149.EUR":"AZ ALLOCATION - TREND \"BAZ\" (EUR) ACC","LU0251132253.USD":"FIDELITY FUNDS  GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) ACC","LU1066051225.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AC\" (USD) ACC","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","LU1917777945.USD":"安联专题基金Cl AT Acc","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0553294199.USD":"BGF GLOBAL EQUITY INCOME \"A5G\" (USD) INC","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","BK4512":"苹果概念","LU0149725797.USD":"汇丰美国股市经济规模基金"},"source_url":"https://wallstreetcn.com/articles/3774784","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2643373567","content_text":"AI推理对昂贵DRAM的依赖正在松动。AMD宣布收购内存优化公司MEXT，将AI驱动的闪存优化技术引入数据中心。这标志着AI存储架构正在经历一场结构性迁移，而核心驱动力只有一个数字：闪存成本仅为DRAM的1/55。周一，AMD宣布以未披露金额完成对MEXT的收购。MEXT开发的AI驱动预测内存技术，旨在让闪存的行为更接近DRAM，在维持性能与效率的同时扩展可用内存容量。AMD表示，此次收购将扩充其AI产品组合，帮助数据中心客户提升性能、降低总拥有成本并加速工作负载部署。\"对内存的需求正在企业计算的每个品类中增长，\"AMD在声明中称。收购消息刺激AMD股价周一上涨7.7%至550.75美元，市值逼近9000亿美元关口，当日S&P 500指数整体上涨1.8%。AMD今年以来累计涨幅已达323%。花旗上周五将AMD评级从中性上调至买入，目标价从460美元上调至575美元。值得注意的是，苹果早在2024年就开始推进\"LLM in a Flash\"端侧方案。这一布局背后，是愈演愈烈的DRAM供给危机。据TrendForce数据，高带宽内存（HBM）已占全部DRAM晶圆产能的约四分之一，DRAM合约价格在2026年第一季度单季环比暴涨约90%。Citrini Research指出，AI存储需求已大到需要多层架构共同承接，闪存并非取代HBM，而是在容量维度承接溢出需求——这场架构重构正在重新定价整条AI存储产业链。内存税危机：瓶颈从AI蔓延至全经济据摩根士丹利分析师Shawn Kim团队本月早些时候的判断，内存价格飙升和供应稀缺正演变为数字经济的全面风险，\"从AI基础设施的瓶颈，蔓延至硬件利润率、设备可负担性、云成本、通胀乃至政策层面。\"这一压力已有具体案例佐证：Xbox首席执行官Asha Sharma上周表示，内存成本在过去两年间上涨了约五倍，导致公司无法生产消费者所需数量的游戏主机。HBM对DRAM产能的持续蚕食是这场危机的核心驱动。据TrendForce及三星、SK海力士、美光等厂商的披露数据，HBM在DRAM晶圆产能中的占比已从2020年的2%攀升至2026年预估的25%。超大规模云厂商以多年期合同预购未来晶圆产出，进一步压缩了面向手机和PC的标准芯片可用产能。新增DRAM产能的建设同样面临结构性制约。扩产依赖EUV光刻机印制更精细线宽，每台EUV设备售价高达约2亿美元，一座新晶圆厂的投资动辄数百亿美元，建设周期在顺利情况下也需数年。这一供给刚性，正是本轮短缺具备持续性的根本原因。55倍成本差：闪存替代的经济逻辑据Citrini Research测算，闪存的每比特成本约为DRAM的1/55——QLC NAND约为每GB 0.05美元，DDR5 DRAM约为2.75美元，HBM3E则高达15美元。这一价差的可利用空间，在于AI推理中最大的单一内存消耗——KV缓存（记录模型每次生成步骤中所有先前标记的上下文，长对话中可增长至数百GB）——对读取速度的要求远低于模型权重的解码路径。对于此类顺序读取数据，DRAM的速度优势大幅收窄，而闪存的容量优势则充分体现。闪存的扩容路径也与DRAM存在本质区别。闪存通过垂直堆叠更多单元层来增加容量，依赖现有工厂已有的沉积和刻蚀工艺，无需新的光刻节点，不占用EUV资源。闪存控制器基于成熟的6/7纳米制程生产，远离正在制约先进制程的瓶颈节点。苹果研究人员此前发表的论文\"LLM in a Flash\"提供了方法论支撑：通过将大语言模型参数存储于设备闪存、按需调取至DRAM的方式，可在DRAM容量受限的设备上运行超出其容量上限的模型，并在CPU和GPU上分别实现比朴素加载方式快4至5倍和20至25倍的推理速度。两条路径：数据中心与端侧同步演进AMD的收购聚焦数据中心场景。通过将MEXT技术整合至AMD数据中心产品组合，AMD寻求帮助企业客户在AI工作负载部署中提升资源利用效率并压缩成本。摩根士丹利Shawn Kim团队认为，尽管内存短缺持续，AMD在云端市场竞争格局上仍具结构性优势——\"代理式AI驱动的CPU需求在结构上有利于AMD在云端市场份额的扩张。\"花旗对AMD的乐观预判则更多基于其GPU销售与英伟达的正面竞争态势。苹果的路径则落子端侧。\"LLM in a Flash\"方案将模型推理对昂贵云端内存的依赖部分转移至设备本地闪存，在降低云端运算成本的同时，为端侧AI应用提供可行的内存架构支撑。据Citrini Research，两大路径共同指向同一结论：AI推理的内存层级正在重构，低频KV缓存、模型权重及端侧数据，将逐步从高价的HBM/DRAM下沉至NAND Flash/SSD层，形成多层次存储架构。这一架构转变正沿产业链形成多层次的传导效应。据Citrini Research梳理，最直接的受益层是NAND原厂，高容量NAND、企业级SSD及QLC NAND为最纯粹的方向，包括SanDisk、西部数据、美光及铠侠。SSD控制器层被认为持续性最强——让闪存真正接近内存体验的核心在于控制器、固件与NVMe架构优化，涉及Silicon Motion、Marvell等。CXL/PCIe高速互联层亦受益。","news_type":1,"symbols_score_info":{"AAPY":0.6,"AMDW":0.6,"AMDD":0.6,"AMUU":0.6,"AMD":1.96,"APLY":0.6,"AMDS":0.6,"AAPL":1.89,"AAPU":0.6,"AMDU":0.6,"DAMD":0.6,"AMDG":0.6,"AMYY":0.6,"AAPX":0.6,"AAPW":0.6,"AAPB":0.6,"AMDL":0.6,"AAPD":0.6,"AMDY":0.6}},"isVote":1,"tweetType":1,"viewCount":1716,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":565541991387336,"gmtCreate":1779104881053,"gmtModify":1779105235493,"author":{"id":"4204818795581912","authorId":"4204818795581912","name":"Invests no gambling","avatar":"https://community-static.tradeup.com/news/36fa51bb4b75c0adc6108bf97e8a90fe","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4204818795581912","idStr":"4204818795581912"},"themes":[],"title":"","htmlText":"😉","listText":"😉","text":"😉","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/565541991387336","repostId":"1119723737","repostType":2,"repost":{"id":"1119723737","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1779088419,"share":"https://ttm.financial/m/news/1119723737?lang=en_US&edition=fundamental","pubTime":"2026-05-18 15:13","market":"us","language":"zh","title":"The largest IPO in history! Musk: Hopes to advance SpaceX's IPO \"soon\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1119723737","media":"老虎资讯综合","summary":"5月18日，马斯克表示，他希望“很快”推进SpaceX的首次公开募股（IPO）。此前消息，SpaceX正大幅加快IPO进程。原定于6月下旬（马斯克生日前后）的上市计划，现已调整为最早于下周三（5月20日）公开招股说明书，6月4日启动路演，6月11日确定发行价格，最早于6月12日正式挂牌交易，股票代码为“SPCX”。知情人士透露，美国证券交易委员会（SEC）对公司IPO文件的审查进度快于预期，是此次上市时间表提前的主要原因。","content":"<p><html><head></head><body>On May 18, Musk said he hoped to move forward with SpaceX's initial public offering (IPO) \"soon\".</p><p>Previous reports indicated that SpaceX is accelerating its IPO process, aiming for the largest initial public offering in history. Last Friday local time, the Wall Street Journal, citing sources familiar with the matter, reported that Elon Musk's rocket company SpaceX plans to officially go public on June 12, with an expected fundraising scale of up to $80 billion or more, listed on Nasdaq. If the plan proceeds smoothly, it will become the largest IPO in the history of global capital markets.</p><p><p style=\"text-align: justify;\">The proceeds from this round of financing will be primarily used to promote the large-scale launch program of the Starship project and to build a data center network deployed in low Earth orbit.</p><p><p style=\"text-align: justify;\">According to Reuters, citing sources familiar with the matter, SpaceX has significantly advanced its original schedule—originally planned to complete the IPO process in late June (around Musk's birthday), but has now adjusted to publicly announcing its prospectus as early as next Wednesday, launching its roadshow on June 4, and officially going public on June 12.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The largest IPO in history! Musk: Hopes to advance SpaceX's IPO \"soon\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe largest IPO in history! Musk: Hopes to advance SpaceX's IPO \"soon\"\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2026-05-18 15:13</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On May 18, Musk said he hoped to move forward with SpaceX's initial public offering (IPO) \"soon\".</p><p>Previous reports indicated that SpaceX is accelerating its IPO process, aiming for the largest initial public offering in history. Last Friday local time, the Wall Street Journal, citing sources familiar with the matter, reported that Elon Musk's rocket company SpaceX plans to officially go public on June 12, with an expected fundraising scale of up to $80 billion or more, listed on Nasdaq. If the plan proceeds smoothly, it will become the largest IPO in the history of global capital markets.</p><p><p style=\"text-align: justify;\">The proceeds from this round of financing will be primarily used to promote the large-scale launch program of the Starship project and to build a data center network deployed in low Earth orbit.</p><p><p style=\"text-align: justify;\">According to Reuters, citing sources familiar with the matter, SpaceX has significantly advanced its original schedule—originally planned to complete the IPO process in late June (around Musk's birthday), but has now adjusted to publicly announcing its prospectus as early as next Wednesday, launching its roadshow on June 4, and officially going public on June 12.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/37a92dcaf28f64e8cb7016e217314e1f","relate_stocks":{"DXYZ":"Destiny Tech100 Inc"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119723737","content_text":"5月18日，马斯克表示，他希望“很快”推进SpaceX的首次公开募股（IPO）。此前消息，SpaceX正加速推进上市进程，剑指史上规模最大的首次公开募股。当地时间上周五，华尔街日报援引知情人士消息报道，埃隆·马斯克旗下火箭公司SpaceX计划于6月12日正式挂牌上市，预计融资规模高达800亿美元甚至更多，上市地点为纳斯达克。若计划顺利推进，这将成为全球资本市场有史以来规模最大的IPO。本轮融资所得将主要用于推动“星舰”（Starship）项目的大规模发射计划，以及建设部署于近地轨道的数据中心网络。另据路透援引知情人士报道，SpaceX已大幅提前原定时间表——原计划于6月下旬（马斯克生日前后）完成上市流程，现已调整为最早于下周三公开招股说明书，6月4日启动路演，并于6月12日正式上市。","news_type":1,"symbols_score_info":{"DXYZ":2}},"isVote":1,"tweetType":1,"viewCount":1668,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}