AI memory demand through a constrained fab capacity path into pricing power and capex, with a reversal loop memory fab advanced-node + HBM packaging wafer fab advanced lead time ramp delay HBM stack advancedpackaging staged capacity demand visibility demand ahead shortage widens gap closes pricing power record margins record economics multitrillion capex capital returns overbuild CXMT / China scaling into the gap supply catches demand? gap holds caught up supply surge pricing loop intact pricing power persists pricing loop unwinds margins normalize accelerator buildout HBM + server-DRAM demand total demand