Woofun AI reports that Nomura maintains the global storage industry faces severe supply shortages, with AI-driven structural demand growth yet to peak. The firm argues recent investor concerns regarding supply surplus are excessive, noting that the cycle from semiconductor investment to production is lengthy. South Korea's 4,800 trillion won investment plan requires at least five to ten years to yield capacity.

Additionally, high-margin HBM production squeezes general storage supply. Nomura emphasizes that Meta's involvement is not a turning point for declining AI hardware demand; rather, it may help stabilize token prices downward amid current computing power shortages.