AI infrastructure data tracker
The numbers behind the narrative — memory prices, packaging, neocloud financing, power. Updated as the data moves.
Memory contract prices (TrendForce)
| Period | Server/Conventional DRAM QoQ | NAND QoQ | Status |
| 2Q26 | +58–63% | +70–75% | done |
| 3Q26 | +13–18% | +10–15% | done |
| 4Q26 | forecast ~9/24–25 | forecast ~9/24–25 | pending |
Direction still up; slope converging. Kioxia voluntarily paused NAND hikes (9/16).
Neocloud pricing & financing
| Date | Event | Reading |
| 9/17 | CoreWeave short-term contracts | ~$40M/MW annualized, contracted power 3.7→4.2GW |
| 9/17 | Nebius rate hike notice | on-demand GPU rates up from 10/1 |
| 9/19 | CoreWeave convertible priced | $3.7B (upsized) at 2.875% due 2033 |
| 9/19 | Nscale files for NYSE IPO | up to $35B valuation; $44.6B Anthropic contract |
Pricing power confirmed on the revenue side; cost of capital cheaper than feared.
Advanced packaging & foundry
| Date | Event | Reading |
| 9/10 | TSMC August revenue | NT$514.8B, +53.3% YoY, all-time monthly record |
| 9/18 | TrendForce packaging outlook | CoWoS-L mainstream through 2028; 2026 high-end GPU shipments +30% YoY |
| 9/17 | Google TPU packaging | evaluating CoWoS backup as Intel EMIB-T yields lag (~90% vs 98% gate) |
“AI CapEx has peaked” continues to be falsified by the data.
Power & data center infrastructure
| Date | Event | Reading |
| 9/16 | Amazon × Generac | backup-generator deal up to $8B (first phase $2.4B, 2027–28) |
| 9/17 | Ratepayer Protection Act | House passed 417–3; stalled in Senate — data centers ≥150MW to self-fund grid upgrades |
Bottleneck migration: compute → memory → power (backup power is the newest leg).
Updated 2026-09-19 · Shanghai. Paid subscribers receive CSV exports of every table.