Memory is a 5 to 10 year constraint. The 2030 guides just proved it. | Ep. 52

A prominent memory bull flipped short term bearish over the weekend, and Sandisk answered with an investor day that guides to 80% gross margins out to 2030. Daniel Newman and Shay Boloor spend episode 52 on the memory wall, the week the GPU depreciation bear case broke, and Futurum's new $12.7 trillion AI capex number. The guys open on why Daniel calls memory a 5 to 10 year constraint and why the memory wall can't be engineered around fast enough to dent the trade. Sandisk's investor day gets the full treatment: mid to high teens growth guided through fiscal 2030, 80% non GAAP gross margins, free cash flow at 50% of revenue, and KV cache reaching 35% of AI data center NAND workloads by 2030. Then the neo clouds: CoreWeave's five year A100 contracts on six year old silicon, the $400 million of annualized non GPU business, and Nebius's first Blackwell capacity auction clearing 15% above its own best pricing with all of 2027 bookable at those levels. Plus Applied Materials' record sequential quarter, Shay's new Vertiv and ON Semiconductor positions for AI power, and the Q&A: the humanoid robotics SPAC red flag, the best AI energy stock, Aehr after a 15x run, AppLovin's binary Q3, Cipher's messy quarter, Credo against Astera Labs, and how Burry and Cramer keep getting the AI trade wrong. Watch the full episode with chapters on YouTube: https://youtube.com/live/mzPSln0f19g The show is live every Friday. Bring your tickers and questions to the chat and the guys will take them on air.