$MU $SKHY $DRAM The total HBM demand picture across all accelerator platforms is stacking higher every quarter. “Demand for XPUs and networking is simply insatiable. During the quarter, bookings for AI semiconductors were over $30 billion against the $10.8 billion we shipped.... In the second half of 2026, we expect AI semiconductor revenue to double from the first half... For the full year 2026, we expect to achieve AI semiconductor revenue of $56 billion... We expect this momentum to continue into fiscal year 2027 and reiterate our AI semiconductor revenue guidance to be in excess of $100 billion.” - $AVGO Broadcom CEO The accelerators are the processors, but they can't think without the HBM attached. Every XPU booking is an HBM booking.