High-tech memory and computer storage stocks are soaring due to “insatiable” demand for their chips and a shortage of supply, as investors hunt for the next winners in the booming AI sector.
Data storage makers have long been overlooked as an unglamorous and less innovative corner of the IT hardware market. But their stocks have rocketed in price in recent months in the face of an AI infrastructure build-out forecast to exceed $500bn this year.
The gains have come even as the huge rally in megacap tech has fizzled out in recent months.
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