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On the second day of the Goldman Sachs Technology Conference, SanDisk provided a supply-side assessment for the storage industry: NAND supply growth is expected to remain constrained for the foreseeable future, while AI inference demand continues to expand, resulting in a long-term tight supply-demand balance. Meanwhile, companies such as Etsy, Booking.com, and Block disclosed tangible AI deployment progress in areas including matching and conversion, customer service, and infrastructure, demonstrating that AI is accelerating from a conceptual stage to measurable commercial returns.

Analyst Ben Bajarin believes that the demand for AI computing power will continue to grow, and 2027 will be the "bottleneck" year with the most severe industry-wide supply constraints. In 2028, supply and demand are expected to remain slightly tight but balanced. Jay Goldberg, on the other hand, warns that the historical cycle's iron law suggests that massive production capacity from companies like TSMC could lead to a collapse in pricing power and a reversion of profit margins to the mean. Both agree that the era of "blindly buying into the AI supply chain and seeing instant surges" has ended, and investors must now carefully select core assets with resilience in cross-cycle pricing.