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Not a new product, not a new capex — the geography and hierarchy of memory itself got redrawn in three days
Google mandates app-level memory cuts, Kioxia commits ¥5T to NAND, CXMT's H1 revenue prints 10x — the week shortage became policy and capital left Korea for Taiwan
The 70% guide isn't a forecast — it's a backlog NVIDIA financed on its own balance sheet
NVIDIA GM guidance 74→71%, Korea semi export +166%, Taiwan grid moves south, Japan equipment revised up — the first week the AI cycle's rent migrated upstream