Last week, users of the Binance platform demonstrated remarkable confidence in the AI semiconductor memory sector. Despite an overall decline in quotes, net investment in SanDisk (SNDK) and Micron (MU) shares doubled, reaching $133 million. This trend appears particularly striking against the backdrop of a 12% decrease in total capital inflows on the platform, to $169.2 million.
The key driver was the sell-off on July 2, when SNDK shares plunged by 14%. Investors saw this as an entry opportunity, actively buying up the fallen stocks. SanDisk and Micron accounted for 79% of the total net capital inflow on the platform for the week ending July 8. Notably, the 4-day trading week due to the US holiday did not reduce demand but, on the contrary, spurred it on a per-session basis.
Shift in Priorities: From Robots to Memory
The technology sector as a whole attracted $191 million, accounting for 113% of the total weekly figure. However, the main battle unfolded specifically around AI memory. Investors took profits in the previous weeks' leaders — Tesla and SpaceX, which saw record outflows of $38 million and $31 million, respectively. This indicates not a capital shift between different AI assets, but a clear concentration of bets on a specific sub-sector — manufacturers of HBM (High Bandwidth Memory), critically important for training neural networks.
Analysts note that interest was fueled by two events simultaneously: news that Anthropic is developing its own AI chip, and a massive sell-off of Samsung shares, which created additional pressure on the market. Binance users, unlike hedge funds that have been shedding chipmaker stocks for the fourth consecutive week, took the opposite stance. Leverage in the Micron ETF (MUU) collapsed by 72%, but this did not stop retail traders, who are increasing positions while simultaneously reducing risk through diversification.
Looking Ahead: SK Hynix Listing
The next major catalyst for the sector will be SK Hynix's listing on Nasdaq on July 10. This event could either boost interest in memory stocks or redistribute capital flows from Micron and SanDisk to the new competitor. In any case, the current dynamics show that Binance retail investors are willing to go against the general trend, betting on the long-term growth of AI infrastructure.
Expert opinion: Such aggressive buying on the dip is a classic sign of "smart money" seeing fundamental value where institutions see risk. However, it is worth remembering that the HBM memory market is extremely volatile and heavily dependent on cyclical supply. If the SK Hynix listing does not meet expectations, we could see a sharp correction. But for now, Binance investors are voting with their money for an AI-driven future.