JPMorgan: Shortage of memory and other components may continue until early 2027.

Gokul Hariharan, co-head of research for the TMT industry at JPMorgan Asia, stated that the demand for tokens for AI applications is growing rapidly, and large tech companies continue to show willingness to invest in AI. These companies have the ability to use operational cash flow or seek financing to support AI investments, leading to strong demand. However, the response from the supply chain has been relatively slow, with a cautious approach to investment and shortages of components such as memory potentially continuing until early 2027. He added that in non-AI sectors, the recovery of demand for related end products such as consumer electronics and automobiles is slow, but their supply chains are being squeezed by the supply chain for artificial intelligence, leading to price increases. This trend of price increases may continue for most of next year.