We foresee resilient long-term growth in DRAM demand. Artificial intelligence adoption continues to accelerate, driving a continued investment in server infrastructure and strong demand for DRAM. AI advancements also drive the development of more complex operations, supporting higher DRAM content per AI server. Beyond AI, advancements in telecom standards and processor capabilities are also driving DRAM demand in industries such as consumer electronics, automotives, and industrials. Applications, infotainment systems, and manufacturing automation are becoming more advanced, and we expect DRAM content there to rise accordingly.