Editorial companion

What stands out

Roundhill Investments CEO Dave Mazza rejects the familiar storyline that the memory-chip market has peaked, arguing demand will keep growing because of neocloud expansion and hyperscalers’ off-balance-sheet commitments. He frames memory not as a retired cycle but as a continuing structural story driven by data-center design changes and higher per-server memory needs, and he flags specific investing opportunities in memory stocks rather than broad avoidance. The clip matters because a prominent ETF manager pushing against the “memory is dead” narrative can influence flows into a highly cyclical corner of semiconductors.