What is a hyperscaler? It is a company that runs massive data centers at planetary scale, renting out computing and storage to everyone else. Think Amazon, Microsoft, Google, and Meta. They buy chips by the truckload to power AI and cloud services. Their capex is up 60% as the AI buildout accelerates, and that spending flows straight into memory. Data center DRAM already makes up 70% of the DRAM market. When hyperscalers build, the whole memory shortage tightens.