Google Just Crashed Memory Stocks

Something strange happened to memory stocks this month. After an eighteen-month tear that made them the darlings of the AI trade, names like Micron, SanDisk, and the Korean giants Samsung and SK Hynix suddenly stumbled — some losing double digits in a matter of days. The culprit? A research paper from Google that promises to make AI systems dramatically more memory-efficient.

The irony is almost poetic. Memory became the critical bottleneck constraining AI’s explosive growth, and th...