Robeco Forecasts Extended Memory Semiconductor Cycle as Sovereign AI Demand Rises

According to Robeco, the Dutch asset manager with $396 billion in assets under management, Korea's memory semiconductor cycle will extend significantly due to multiple supporting factors, Chris Burkouwer, global head of equity strategy at Robeco Global Stars, said on July 14.

Burkouwer cited three reasons for the extended cycle: government prioritization of artificial intelligence broadening customer demand beyond major tech firms to include sovereign AI initiatives; memory chip demand far outpacing production capacity even if doubled; and a shift toward longer-term supply contracts. The asset manager expects this extended cycle to deliver prolonged earnings growth, countering market concerns about AI semiconductor peak-out.