The entire AI sector has become completely tied to storage. Storage is the locomotive—the one receiving the largest airflow and therefore bearing the greatest risk. And Hynix is the locomotive of storage, with 7709 being the largest leveraged position. If you want AI not to collapse, the only thing you can do is to “refuel” 7709. In other words, if the locomotive breaks down, the whole train has to slow down for repairs. It’s a bit naïve to fantasize that if storage collapses, money will flow into other sectors to help unwind your other AI positions.