Article summary:
Market sentiment regarding the semiconductor sector quickly reversed following initial shocks caused by the Chinese AI model ‘Kimi K3.’ Shares of Samsung Electronics and SK Hynix rebounded within a day after Moonshot AI temporarily suspended new subscriptions due to severe computing shortages. Investors interpreted this bottleneck as a real-world example of the Jevons paradox, realizing that cheaper and more efficient AI models will ultimately skyrocket user demand and escalate the need for infrastructure rather than reducing it.
Financial analysts and tech experts confirmed that Kimi K3's complex structure will drive higher demand for general-purpose memory, high-bandwidth memory (HBM), and GPUs. Reports from firms like Semianalysis and DS Investment & Securities dismissed recent concerns over a semiconductor market peak, projecting long-term supply shortages extending past 2030. Because tech companies continue to invest heavily in infrastructure to boost profitability in core businesses like cloud services and search engines, AI-driven memory demand is expected to consistently outpace supply growth.
[https://www.chosun.com/english/market-money-en/2026/07/20/REX72B5PLZEOBM7GAWM2HW6P5Y/](https://www.chosun.com/english/market-money-en/2026/07/20/REX72B5PLZEOBM7GAWM2HW6P5Y/)
