Most of the things people say about efficient markets assume low barriers to entry. When it takes years and tens of billions of dollars to add capacity, it makes more sense to sit back and enjoy the margins. Especially if you think there's a non-trivial possibility that the AI build out is a bubble.
We only need the memory manufacturers to not collude with each other, not even external pressure.
You want to tame their cartel like behaviors? Just get into their books and it would be clear as day if they’re artificially constraining the supply, and I’m not even talking about spending extra billions.
You cannot manufacture something that modern life depends on and not get government scrutiny.
