Roundhill Memory ETF（代码：DRAM）今日盘中大涨9.16%，引起了市场的广泛关注。
消息面上，此次上涨主要受到存储芯片行业密集利好的推动。研究机构高盛明确指出，当前DRAM-NAND-HBM超级周期仅处于中段而非顶点，供需紧张程度将延续至2028年。数据显示，二季度DRAM合约价环比上涨52%-63%，NAND涨幅突破70%，创近10年最大单季涨幅。AI服务器出货量同比增长180%，单台AI服务器DRAM用量为传统服务器8-10倍，推动存储芯片需求激增。此外，机构全面上修存储芯片报价预期，叠加美股存储芯片板块盘前反弹，进一步提振了追踪该行业的ETF表现。
行业分析指出，全球DRAM、NAND、HBM供需缺口分别达4.9%、4.2%和5.1%，均为2011年以来最高水平。三星、SK海力士、美光将70%以上先进产能转向HBM及DDR5，通用型产能收缩，库存处于历史低位，供需失衡格局短期内难以逆转。存储芯片已成为AI产业的核心支柱，长期高景气周期预期强化了市场信心。
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