AI stocks have lost over a trillion

dollars in combined value over the last

two weeks with some stocks crashing so

fast that they tripped circuit breakers

and halted trading altogether. But while

most of Wall Street is panic selling, I

see a huge opportunity to buy great

stocks at even greater discounts. Talk

about a great way to get rich without

getting lucky. My name is Alex and

that's exactly how I made so much money

on great stocks like Nvidia, Micron, and

TSMC over the last 10 years. Let me show

you what's really happening underneath

all the panic and how I'm investing in

it. Your time is valuable, so let's get

right into it. South Korea's main stock

index is called the Kospi and it's kind

of like our S&P 500 but for the Korea

exchange. The Kospi is down by over 15%

in the last few days and more than 30%

in the last month alone. In fact, it

fell so hard so fast that it triggered a

market-wide circuit breaker, an

automatic halt that freezes trading

across the entire exchange. Imagine the

panic if that happened to the S&P 500.

It happened to the Kospi at least eight

times so far this year. The Kospi tracks

833 companies, but the two we're focused

on sit right at the top. Samsung makes

up over 26% of the entire index and SK

Hynix makes up another 24. That's more

than half the entire index represented

in just two stocks and that's after

their massive recent drawdowns. The same

thing causing this catastrophic decline

in the Korea exchange is also affecting

US stocks. Not because of the businesses

themselves, but because new reports are

coming out saying that China has begun

mass producing its own emerging DUV

lithography machines with the first

systems due later this year. Lithography

machines are the size of a small

apartment and they contain hundreds of

thousands of parts. Those parts all come

together to print microscopic circuits

onto chips using ultraviolet light.

These machines can only run in clean

rooms, specialized sealed and filtered

facilities with essentially zero dust in

the air because a single speck of dust

landing on the wafer can interfere with

the light and ruin the chip. In fact,

these machines are so specialized that

essentially only one company on Earth

can even make them, ASML, a Dutch

company that controls almost the entire

global lithography market until now.

Deep ultraviolet, or DUV lithography,

isn't precise enough to make the most

advanced GPUs or AI processors with high

enough yields, but it is precise enough

to make memory, NAND flash memory, DRAM,

and even the dies inside high bandwidth

memory that goes onto AI chips. But

stacking those dies is a different

problem altogether and a much harder

one. And if China can mass-produce

memory, then Samsung and SK Hynix are in

for a world of hurt since they control

around 70% of the current global DRAM

market and close to 80% of the market

for high bandwidth memory. That's why

they're crashing and they're taking

every other AI stock down with them.

Remember what I said a week ago when I

told you this market shock was coming.

These machines come in hundreds of

crates and take months just to assemble.

And after that, they still need to be

calibrated, tested, and tuned for the

specific chips that they'll be making.

And they aren't the only machine in the

process. It takes dozens of individual

machines and hundreds of individual

steps to make memory. So, China has to

recreate the whole production process,

not just one machine, and with high

enough yields to actually compete. So,

that begs the obvious question, should

every AI stock go down just because

there might be more competition for

memory a few years from now? And the

best way to answer that is by looking at

the data. I think three kinds of

companies are getting over sold in this

correction. Memory, which is how all of

this started, AI cloud companies that

rent out compute instead of making

memory, and quantum computing companies,

which are a separate kind of company all

together. And the thing is, all three

kinds of companies are hitting major

milestones while their stocks keep

crashing. Let's start with memory. On

July 13th, SK Hynix stock fell by more

than 15% in a single trading day, the

worst day in the company's 40-year

history. Here's what actually happened.

An analyst from Korea Investment and

Securities published a research note

explaining that most of SK Hynix's high

bandwidth memory was locked under

long-term contracts spanning roughly 3

to 5 years. The prices in those

contracts are fixed 12 to 36 months

before the first chips even come off the

production line. That means when memory

prices go up, SK Hynix doesn't get to

charge more for the memory that's

already under contract. And memory

prices have been going up a lot over the

last quarter. Standard DRAM prices rose

about 30% and NAND flash memory prices

rose around 50% quarter over quarter.

So, the big idea behind this analyst

memo was that memory companies missed

out on these price gains by locking in

so much of their HBM sales through

contracts ahead of time. So, SK Hynix

had the worst market day in company

history because memory got more

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right. So, SK Hynix had their worst

market day ever because memory got more

expensive and their contracts stopped

them from enjoying some of that upside.

And it's not just SK Hynix. SanDisk

disclosed roughly $42 billion in minimum

contract value that they signed over the

last quarter. Those contracts cover over

a third of the memory by bits that

SanDisk expects to make this fiscal

year. And Micron has 16 strategic

customer agreements that represent over

a hundred billion dollars in minimum

contract value. That covers roughly 20%

of their DRAM and a third of their NAND

flash volume. These are huge contracts

that prevent these huge upsides. So,

memory stocks went down over the last

few weeks. But look what's happening

now. The big reason for the current

drawdown is that China might be able to

make their own memory with homegrown DUV

lithography machines. That increases

supply, which means memory prices should

fall. But these same contracts that

prevent memory companies from enjoying

the upsides protect them from falling

prices, too. Exactly the thing the whole

market is is about. SK Hynix stock is

down by around 25% over the last couple

weeks on the Nasdaq and around 50% in

the past month on the Korea Exchange.

Micron stock is down by around 35% over

the last month and 25% in the last week

alone. And SanDisk stock has literally

been cut in half over the last 30 days,

even though contracts protect all three

companies from falling prices. And China

is still years away from using their DUV

lithography machines to make competitive

chips at scale. I'm not saying there's

zero risk for these memory stocks, but I

am saying that it's way too early to

price those risks in, at least in my

opinion. Another risk that's being

priced in way too early is Meta Compute.

Earlier this month, Bloomberg reported

that Meta is planning their own cloud

business called Meta Compute to rent out

any extra AI infrastructure that they

build to outside companies. The report

sent Meta's stock up by almost 9% in a

single trading day, while knocking down

neo cloud stocks like Core Weave,

Nebius, and Iren by 14 to 17% each. But

the bleeding hasn't stopped for these

companies. Core Weave is down by over

35% this month and almost 25% in the

last week alone. Iren is also down by

over 35% and Nebius is down by over 40,

marking some of the sharpest declines

these three companies have ever seen.

It's worth asking the same question

here. Should these three companies

really be down by this much? Let's think

about it from first principles. Neo

cloud companies rent compute capacity to

companies that want AI, but don't want

to spend billions of dollars building

and maintaining their own physical

infrastructures. So, these neo clouds go

out and secure grid connected power,

build or buy data centers, fill them

with racks of GPUs and networking gear,

and make their money back by renting it

all out once everything's all online.

That means neo clouds have to risk a lot

of money up front and hope that they'll

still be enough demand when everything

is up and running. If the company is

still young and unprofitable, they need

to borrow that money, usually by taking

out loans at high interest rates or

diluting shareholders, both of which are

bad for the stock. But Meta Platforms

doesn't have that problem since it's

already a trillion-dollar tech giant

with massive margins. So, Meta can build

as much compute capacity as they want

and rent out whatever end up using

without having to raise any extra

capital or take on loans with bad terms.

So, it's game over for the neo-clouds,

right? Meta gets all of the upside with

almost none of the downsides or the

risks. Well, not exactly. First, Meta

just reported earnings on July 29th. On

their previous earnings call, Mark

Zuckerberg said that entering the cloud

business is definitely on the table. On

this one, he said that they're getting

offers to rent out their compute at a

big premium over what they paid for it,

but he thinks that it would be foolish

to just sell their compute for

short-term profits. Meta can make much

more money by selling finished

intelligence services like agentic

models and coding tools instead of

renting out raw hardware. As a result,

Meta is using all of their servers

themselves and don't have any extra

compute capacity to rent out. On top of

that, Iren and Nebius both signed

billion-dollar contracts after this

report came out. On July 14th, Nebius

agreed to sell more than a billion

dollars of compute capacity to

Reflection AI. The contract runs through

2029 for access to Nvidia's GB200

Blackwell Ultra Chips. Then, on July

20th, Iren signed $2.8 billion in new

multi-year AI cloud contracts and raised

their year-end target for their revenue

run rate. And don't forget that Meta

actually has $35 billion committed to

CoreWeave and up to 27 billion dollars

in additional contracts with Nebius.

That makes Meta a net buyer of Neocloud

compu, not a net seller like the market

is pricing in right now. So, Meta compu

is a great way for them to hedge against

overspending on their own AI data

centers, but it's not happening anytime

soon. That's why I'm still buying IREN,

Nebius, and CoreWeave, especially as

their prices continue to fall. And I'm

not the only one. On July 20th, NVIDIA

filed a disclosure with the SEC stating

that they own over 22 million shares of

Nebius, which works out to around 9.3%

of the company. To me, that means NVIDIA

isn't just betting on Nebius, but on the

bigger idea that Neoclouds are worth

investing in directly. And that brings

me to the third group of stocks, quantum

computing. And if you feel I've earned

it, consider hitting the like button and

subscribing to the channel. That really

helps, and it lets me know to make more

videos like this. Thanks. Now, let's

talk about IonQ, D-Wave, and Rigetti,

since they're all down by 30 to 40% over

the last few weeks. On July 13th, the

same day that halted the Korea exchange,

all three quantum computing companies

went down by close to 10%. No news, no

earnings misses, and no delays. So,

let's ask the same question for a third

time. Should these three stocks really

be down by this much? First, there's no

meaningful connection between quantum

computing hardware and Korean memory.

These machines don't compete with

memory. They don't buy in large volumes,

and they don't sell to the same

customers. Quantum computing stocks

simply moved with the rest of the

market. And second, all three companies

had major developments during this

drawdown. On July 27th, AT&T signed an

agreement to expand their use of

D-Wave's quantum systems across their

network. AT&T plans to use these systems

for outage detection and response,

technician routing, network traffic

management, and even build planning. In

one early application, AT&T cut a

network optimization workload that

usually takes an hour down to under 15

seconds. That's roughly a 240 times

speed up thanks to D-Wave's quantum

processor. That same day, Rigetti

expanded their collaboration with HPE to

build a hybrid quantum-classical testbed

at the Pittsburgh Supercomputing Center.

Construction starts September 1st. And

one day later, IonQ cleared the final

regulatory hurdle to acquire Skywater

Technology, an American semiconductor

foundry, with the deal expected to close

right as I published this video. So,

IonQ is spending money on securing a

fully domestic supply chain to

accelerate their own road map. All three

companies report earnings in early

August. So, let me know in the comments

if you want me to follow up with another

video focused on quantum computing. All

right, here's a table summarizing

everything I've covered. As you read

through it, keep a few things in mind. I

built this table myself, and I tried to

keep each row as apples to apples as I

could, but it's not perfect. For

example, I'm showing price changes over

the last month, but SK Hynix didn't list

on the Nasdaq until July 10th. So, I'm

using their price on the Korea exchange

instead, which is about a day ahead. And

all these companies have different

fiscal years, so I'm using their

trailing 12-month revenue growth. And of

course, they all have different contract

lengths and terms with different

customers and fundamentally different

technologies. So, basically, take this

as a solid summary table, but not as

official audited numbers. Here's what

jumps out at me after putting this all

together. Every one of these stocks is

down by between 30 and 55% in a single

month. Memory makers, AI cloud

companies, and quantum computing. Three

completely different markets with three

completely different kinds of milestones

and risks. And almost every single one

of them has grown their revenues by

triple digits. Nebias grew by 453%.

IonQ grew by 335%.

These are not companies in trouble.

Their stocks got cut in half while their

businesses doubled. And then there's

Rigetti with revenues down 34%

year-over-year, but that number is

hiding something big. Their most recent

quarter was actually up 199%

driven by on-premises system sales and

government contracts. Early-stage

quantum revenue is always spiky because

it comes from individual system sales,

research awards, and cloud access

milestones instead of steadily recurring

revenue. A big system can ship in one

quarter and not in the next. So, if

you're investing in quantum computing,

you already know it's going to be a

bumpy long-term ride. And speaking of

bumpy, one quick note about this

drawdown. If you look at the price

action over the last month, you'll find

plenty of days where stocks ripped 10,

15, or even 20% higher in a single day,

only to lose it all again the following

week. A green day in the middle of a

drawdown can feel like the bottom, and

sometimes it is, but sometimes it's just

a breather before the next leg down.

That's why I always dollar cost average

into these positions and why I always

keep some money on the side in case

things go lower. That's a great way to

get rich without getting lucky. And if

you want to see even more stocks I'm

buying rich without getting lucky, check

out this video next. Either way, thanks

for watching, and until next time, this

is ticker symbol U. My name is Alex,

reminding you that the best investment

you can make

is in you.