My AI infra + memory watchlist: NBIS, CRWV, IREN, KEEL, MU, and Sandisk — what’s your valuation take?

I’ve been following a few names in the AI infrastructure and memory space, and I’m trying to separate real value from pure momentum. My current watchlist is NBIS, CoreWeave, IREN, KEEL, Micron, and Sandisk.

What I’m seeing:
• NBIS looks like the strongest strategic AI-infra story, especially after Nvidia’s backing, but it already feels like the market is pricing in a lot of success.
• CoreWeave looks like the clearest pure-play AI cloud name, but the valuation seems rich and financing/capex risk is real.
• IREN feels like the highest-upside transition story, but also the one that depends most on execution.
• KEEL looks more like a momentum/speculative infrastructure name to me, with limited margin of safety at current levels.
• Micron and Sandisk seem like the cleaner way to play the memory cycle, especially with DRAM/NAND demand still strong.

My rough take is:
• NBIS = best strategic upside, but volatile.
• CRWV = strongest pure-play, but expensive.
• IREN = most optionality, highest execution risk.
• KEEL = momentum name, not cheap.
• MU = best quality/value mix in memory.
• Sandisk = more aggressive NAND/momentum play.

I’m curious how others are thinking about these:
• Which one do you think is actually undervalued right now?
• Which one has the best risk/reward over the next 12–24 months?
• And which one looks most overextended already?
Would love to hear bull and bear cases from people following these names closely.