https://blog.alansun.host/tags/%E5%AD%98%E5%82%A8%E8%8A%AF%E7%89%87/Recent content in 存储芯片 on 没用知识库Hugo -- gohugo.iozh-cnalansundy@gmail.com (羊羊羊)alansundy@gmail.com (羊羊羊)© 2026 羊羊羊Wed, 01 Jul 2026 00:00:00 +0000https://blog.alansun.host/posts/20260701_hbm%E7%BB%93%E6%9E%84%E6%80%A7%E7%9F%AD%E7%BC%BA%E8%AE%BA%E8%AF%81/Wed, 01 Jul 2026 00:00:00 +0000alansundy@gmail.com (羊羊羊)https://blog.alansun.host/posts/20260701_hbm%E7%BB%93%E6%9E%84%E6%80%A7%E7%9F%AD%E7%BC%BA%E8%AE%BA%E8%AF%81/打破传统存储器“涨价—扩产—崩盘”的周期律假设，从智能体 Token 消耗、长上下文 KV Cache 状态驻留与模型规模三大引擎量化推演 2026—2030 年 HBM 的结构性供需缺口。https://blog.alansun.host/posts/20260627_%E4%B8%89%E5%80%8D%E6%9D%A0%E6%9D%86%E4%BA%A4%E6%98%93%E5%A4%8D%E7%9B%98_%E4%B8%83%E6%9C%88%E4%BA%BA%E5%B7%A5%E6%99%BA%E8%83%BD%E5%8D%8A%E5%AF%BC%E4%BD%93%E7%AD%96%E7%95%A5/Sat, 27 Jun 2026 00:00:00 +0000alansundy@gmail.com (羊羊羊)https://blog.alansun.host/posts/20260627_%E4%B8%89%E5%80%8D%E6%9D%A0%E6%9D%86%E4%BA%A4%E6%98%93%E5%A4%8D%E7%9B%98_%E4%B8%83%E6%9C%88%E4%BA%BA%E5%B7%A5%E6%99%BA%E8%83%BD%E5%8D%8A%E5%AF%BC%E4%BD%93%E7%AD%96%E7%95%A5/复盘 6 月末美光财报后的半导体板块抛售，探讨季末资金再平衡、Token 降价压力（Tokenmaxxing）、内存涨价对下游利润的挤压，以及云巨头资本开支指引对算力股的决胜意义。