#memory

SK Hynix's Nasdaq debut was the largest US listing ever by a foreign company. It controls roughly 60% of high-bandwidth memory, which is the actual constraint on AI compute. The harder question is whether memory has really stopped being a cyclical business, and I don't think it has.

The honest answer changed. 16GB is the floor now, not the upgrade, and Apple raising its own base configuration is the tell. But the number matters less than one question nobody asks first: can this machine's memory ever be changed?