Keira Knightley says she won’t return to Pirates of the Caribbean because the franchise destroyed her reputation. “I was seen as shit because of them, and yet because they did so well I was given the opportunity to do the films that I ended up getting Oscar nominations for.” “It’s a funny thing when you have something that was making and breaking you at the same time.” “They were the most successful films I’ll ever be a part of, and they were the reason that I was taken down publicly. So they’re a very confused place in my head.” Knightley also says the productions consumed years of her life. “The hours are insane. It’s years of your life, you have no control over where you’re filming, how long you’re filming, what you’re filming.”

$MU Micron KeyBanc talk with their EVP Sumit Sadana yesterday on SCA’s. There were questions if SCA’s can be broken and sounds like he is stating that’s hard to do and it’s contractually binding. We do not know the exact legal language of these contracts to come to a definitive conclusion. The upfront cash collected is significant and remember these cover a portion of revenues. I still believe a buyback announcement is a strong possibility after December 2026 or early next year when their CHIPS ACT lockup ends. “These SCAs cover a long time horizon. Some customers that are smaller like automotive have 3 year SCAs. The SCAs that cover overwhelming amount of revenue under SCA is going to be 5 year type of terms through the end of 2030." > "SCAs are binding commitments on purchases of volumes by year, by customer. Take or pay agreements with no contractual outs. Backed up by tremendous amounts of upfront cash like commitments."

Just listened to the KeyBanc interview with $MU Chief Business Officer, Sumit Sadana. The highlights were absolutely INCREDIBLE and VERY bullish. They include: - “Business continues to be exceptional” - “Since earnings [on June 24th], demand from our customers has increased even further” - “Conditions will continue beyond calendar year 2027 and 2027 calendar year will be tighter than 2026 because demand growth is faster than supply” $250 Billion of investments in coming years - “We are at such early stages” - The growth in HBM memory means for every 100 bits, you need 3-400 bits of DDR memory, so it reduces DDR supply even more - Building a manufacturing fab and ramping it is *significantly harder* than building a data center and takes years - Every customer is saying #1# constraint they have is DRAM (not power, or other things) - We expect to have a prolonged excellent financial performance “for a very long time” - “The nature of our engagement with customers is at levels I have not seen in my entire career.” - Working on engineering designs with our customers that are planned for beyond 2030 - New Strategic Customer Agreements (SCAs) are far better than previous LTA (Long Term Agreements) because: they cover longer time horizon of 3-5 years, they are binding commitments by year with “Take or PAY” with very stringent and binding terms, backed up by “tremendous amount of up-front cash that we hold on our balance sheet.” The SCAs have pricing that are either “floating” (market price) or a price band that have both a ceiling & floors. Floor pricing provides better gross margins than historical peaks on margins. Physical AI such as humanoid robots might drive future demand even greater than what we’ve seen. May be astronomical!