Why Not Buy Memory Chip Stocks? Two Titans Weigh In

As the AI infrastructure boom propels memory chip stocks to the spotlight, ARK Invest's Cathie Wood and tech analyst Ben Thompson have chosen to sit on the sidelines. The former warns that multi-fold price surges are a negative signal, noting that inference chips from Cerebras, Groq, and others have already engineered around high-bandwidth memory at the architectural level. The latter draws an analogy to Iran blockading the Strait of Hormuz—play that card, and the other side will only accelerate efforts to find alternatives. Memory's moment in the sun may well be the starting point of its own replacement.