The AI trade is moving beyond GPUs into memory and storage. Investors are not only watching Nvidia but also HBM (high-bandwidth memory), high-end DRAM, and data-center storage, as AI servers require both compute and memory bandwidth.

Micron is in focus this week as AI memory demand lifts pricing. Market expectations point to nearly +1,000% year-over-year adjusted EPS growth for the quarter. This suggests the AI profit pool may be spreading from GPU leaders to memory, storage, and infrastructure suppliers.

Key companies to watch include Micron (AI memory, HBM, DRAM), Nvidia (AI accelerator), Western Digital (storage), and Seagate Technology (enterprise storage).

The fundamental question is whether AI demand is translating into real pricing power and earnings growth across the supply chain.