HBM Scarcity Is a Temporary Windfall with 2028 Glut Risk (nova.kapualabs.com)
Memory investments totaling $2 trillion may ease today's shortage but trigger synchronized price declines later
HBM scarcity is boosting $NVDA today—but the capacity wave could bring a 2028 glut. Key watchpoints: CoWoS, substrates, HBM qualification, and hyperscaler capex. https://post.kapualabs.com/4rwe8ka5