> This is actually a clean commodity price spike because it’s specifically not for market manipulation or financial engineering. It’s because demand for this product really did explode overnight.

Based on how the same 3 billion has been circiling between Anthropic, OpenAI, Nvidia, Google, Microsoft, Amazon, and a few other companies... I really doubt that this is the case, to be honest.

You're being exceedingly pedantic over the use of the colloquialism "DRAM tax" but then you allow "demand shocks". So yeah, everyone's shocked.

Weird hill..

It is manipulation when wafers are purchased in order to not process further a la OpenAI.

By 3 buyers who have no known plan to finance the purchase orders they have made.

Economic history is also full of examples of bubble bursts.