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Markets · Investing · Business
Finance
Elon Musk Just Explained Why Memory Could Be the Next AI Winner.
Memory stocks have been under pressure, but Elon Musk has a different view.
Elon Musk says that the artificial intelligence build-out has a memory problem. The CEO of Tesla and Space Exploration Technologies(NASDAQ:SPCX) said on SpaceX’s earnings call that demand for memory chips is growing much faster than the available supply.
“The limiting factor currently is memory,” he said.
Details
Musk’s statement is notable for two reasons. First, both his companies are keenly interested in buying memory, so Musk knows the space well. Tesla and SpaceX both rely on artificial intelligence for their future goals, and both are investing billions to purchase AI chips, memory, storage, and other AI infrastructure for their data centers.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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