追踪内存/存储芯片行业的Roundhill Memory ETF (DRAM) 今日盘前交易中大幅下跌5.11%，引发了市场对该板块的广泛关注。
消息面上，多重利空因素共同打压了存储芯片板块的情绪。首先，地缘政治风险显著升温，美伊冲突再度升级引发了全球市场的避险情绪，科技股及半导体板块普遍承压。其次，行业研究机构SemiAnalysis发布的最新研报指出，AI数据中心的关键技术路径，包括800VDC电源架构和共封装光学(CPO)的量产与交付节奏出现显著延期，这引发了市场对未来高端存储需求增长可持续性的担忧。
此外，市场对于AI基础设施投资的热情也出现降温迹象。有分析指出，衡量AI使用支付意愿的Token支出指数在近期出现回落，科技巨头内部也开始遏制无效的AI算力消耗。这令投资者担忧支撑存储芯片需求的AI资本开支可能放缓，从而影响了存储芯片ETF的短期表现。
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