[Nomura Securities: The Global Storage Industry Faces Severe Supply Shortages, AI-Driven Structural Demand Growth Has Yet to Peak] Jin10 News, July 5 – In its latest report, Nomura Securities states that the core issue in the current global storage industry remains a severe supply shortage, and the AI-driven structural demand growth has not yet peaked. Recent investor concerns about supply surpluses are clearly overblown, and the market's overreaction may provide an opportunity to reassess valuations in the storage sector. Nomura Securities explicitly points out in the report that market concerns are greatly exaggerated. The conversion cycle from semiconductor investments to actual production capacity is extremely lengthy. For instance, South Korea's investment plan of up to 480 trillion won will take at least 5 to 10 years to translate into actual production capacity. Additionally, the high profitability of HBM (High Bandwidth Memory) is squeezing the capacity for general-purpose storage, leading to a severe supply shortage in the market. Nomura Securities emphasizes that Meta's decision is by no means a turning point for reduced AI-related hardware demand. On the contrary, due to the current shortage in computing power supply, the price of individual tokens is showing an upward trend. The entry of Meta's computing power into the market is expected to stabilize token prices downward.