【Livestream Clip 1｜Ross Dong: AI Memory Down—Is the Thesis Broken?】

TBlive
07-24 18:22

【LIVESTREAM RECAP｜Inside the AI Memory Boom: Opportunities and Challenges for SK hynix】

Hi Tigers! In this session we zoomed in on one of the hottest — and most debated — trades right now: AI memory. From the recent pullback in Korean and US memory stocks, to the core question of "is this a top, or just halftime in a longer bull market," all the way to the HBM supply gap, KOSPI valuations, Korea's macro fundamentals, and how open-source AI models are reshaping memory demand — the flow was layered and packed with substance. Ross doesn't dodge the sharp question of "is the AI thesis broken"; instead he unpacks it piece by piece with data, fund flows and industry cycles.
Full replay 👉 Inside the AI Memory Boom: Opportunities and Challenges for SK hynix

【About the Guest】

Our speaker, Ross Dong @Ross_Macro_Trading,, is a founding partner at Morning Cloud Asset Management, specializing in macro trading and US equities. He spent over 15 years as an equity trader at firms like JP Morgan and KCG, and holds a degree in applied mathematics from Columbia University. Ross is known for spotting secular growth trends early; today he manages over $30M in AUM and leads a community of 15,000+ members. What makes his perspective unique: he blends top-down macro logic with bottom-up stock selection, thinking about both industrial/technological cycles and monetary/financial cycles.

【Highlights】

1. Top or halftime: why Ross sees this as a "short-term top and healthy correction," not the end of the AI bull market.

2. Four signals behind the pullback: from hyperscalers leasing compute, to OpenAI's delayed IPO, to capital flowing out of US tech.

3. The HBM supply gap: why capacity expansion for advanced memory still lags structural AI demand.


Live Recap:

【THIS CLIP】

This clip tackles the question everyone's asking head-on: AI memory sold off — is the whole AI thesis broken? 📉 Ross's answer is clear — he reads the pullback since late June as a "short-term top," not the end of the bull market, with the long-term thesis still intact and only stretched valuations needing time to reset. What makes it worth watching: he doesn't stop at a conclusion — he shares how he actually trimmed positions after Micron's earnings and where he'd rebuild. A calm framework for anyone tempted to panic.

We genuinely recommend watching the full replay — many overlooked details (like the rebalancing pace of Korea's NPS, KOSPI's 12-month forward PE dropping to its lowest range in 20 years, and the exact timing of passive ETF inflows) live in the full version. And stay tuned for our upcoming community livestreams — let's keep filling in the gaps and learning together.

🎁 Community Rewards ｜ 500 Tiger Coins Up for Grabs!

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💡 Watch it to the end and follow us — the more you dig in, the more you'll take away. See you in the comments!
(For education only, not investment advice.)

Full replay 👉Inside the AI Memory Boom: Opportunities and Challenges for SK hynix

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment（5）

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  • Shyon
    ·00:01
    The point that resonated with me most was the distinction between a short-term top and the end of a long-term bull market. Many investors mistake every correction as the collapse of the AI thesis, but valuation resets are a normal part of secular growth cycles. That matches how I've been viewing the recent semiconductor pullback.

    I also found the discussion on the HBM supply gap insightful. As AI models continue to grow, advanced memory remains a key bottleneck. Despite short-term volatility, I believe the long-term demand for HBM and high-performance DRAM remains strong.

    My biggest takeaway is to separate price action from business fundamentals. Rather than reacting emotionally, I prefer to focus on industry trends and supply-demand dynamics. Corrections often create opportunities for patient long-term investors.

    $Micron Technology(MU)$ $SK hynix(SKHY)$

    @TBlive @TigerStars @Tiger_comments @TigerClub @rL @koolgal @icycrystal @nomadic_m @Universe宇宙 @1PC @GoodLife99

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  • Cadi Poon
    ·07-24 20:45
    KOSPI valuations, Korea's macro fundamentals, and how open-source AI models are reshaping memory demand — the flow was layered and packed with substance. Ross doesn't dodge the sharp question of "is the AI thesis broken"; instead he unpacks it piece by piece with data, fund flows and industry cycles.
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  • TimothyX
    ·07-24 20:32
    From the recent pullback in Korean and US memory stocks, to the core question of "is this a top, or just halftime in a longer bull market," all the way to the HBM supply gap, KOSPI valuations, Korea's macro fundamentals, and how open-source AI models are reshaping memory demand — the flow was layered and packed with substance. Ross doesn't dodge the sharp question of "is the AI thesis broken"; instead he unpacks it piece by piece with data, fund flows and industry cycles.
    Reply
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  • Shyon
    ·00:02
    screenshot of my repost and sharing
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  • LawrenceSG
    ·07-24 20:17
    ik
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