The AI trade is moving deeper into the stack.

- First it was models.

- Then it was GPUs.

- Then it was data centres.

Now investors are looking at memory.

Samsung, SK Hynix and Micron make up over 70% of this pure memory ETF.

Why?

Because AI does not just need more compute.

It needs more DRAM, more storage, more bandwidth and more capacity.

Memory is the next bottleneck the market cannot ignore.