AI has been eating up the world's supply of memory and companies like Micron have even abandoned their consumer brands to focus entirely on B2B supply. Other components like GPUs have also been feeling the pressure.
2L Qwen3, d=5, 2h/1kv, hd=2
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这种三层架构的价值传导失衡，正是上游业绩与股价背离的核心根源，也催生了产业链的资本循环悖论。