I don't get it tbh. What market participants were speculating here? There aren't futures markets in RAM as far I know, though I certainly don't know much. And the supply constraints appear to have been pretty real (though maybe not immediate) if eg. Valve was begging publicly for RAM consignments. Were there pure-play speculators filling warehouses with DDR5?

According to this he ordered them uncut and unfinished and may just warehouse until needed:

https://www.mooreslawisdead.com/post/sam-altman-s-dirty-dram...

Its still speculative that OpenAI won't go bankrupt and have to free it back to the market, but if it is holding them unfinished it is a supply constraint on finished RAM chips even if not on wafer output.

The economy is vibe coded at this point.

Have we gotten anymore word on the potential Helium constraints that SK Hynix was making noise about after the strike on the helium plant in the Middle East that suppplied 60% of S. Korea's Helium? Because that could definitely put a kink in things, since SKH is one of the 3 remaining big DRAM producers.