Over the past few weeks, the hype around the AI supply chain has spread from the U.S. stock-market names like AMD and SNDK to Asian assets. —长鑫 ($CXMT), SK hynix’s ADRs, and even Chinese AI companies like Minimax and Zhipu are all being used to push an “Asia-version Nvidia supply chain” narrative. My own view is that the fundamentals behind the memory (HBM/DRAM) line do have real support, and the financial results can be verified. However, AI companies that aren’t yet public—like Minimax and Zhipu—are essentially narrative trades. Before entering, it’s best to think through how you’ll exit the position and manage liquidity, not just whether the story is sexy enough.

#CXMT #Asia stocks