ChainThink News, July 5: According to a recent report from Nomura Securities, the core contradiction in the global storage industry remains severe supply shortages, with structural demand growth driven by AI still not reaching its peak.

The report suggests that recent market concerns over supply surplus have been significantly amplified, potentially creating a valuation re-rating window for the storage sector.

The report highlights that the conversion of semiconductor investments into actual production capacity takes a prolonged period; the South Korean investment plan of KRW 480 trillion will require at least 5 to 10 years to gradually materialize capacity.

Meanwhile, high-margin HBM is exerting squeeze pressure on general-purpose storage capacity, further intensifying industry supply constraints. Nomura Securities also notes that Meta’s decision does not indicate weakening demand for AI hardware.

To the contrary, under current compute supply shortages, the price per Token is trending upward, and Meta’s entry into the compute market is expected to help stabilize Token prices downward.