The Roundhill Memory ETF (CBOE: DRAM) continued its strong momentum last week, helped by the strong demand for memory products as the artificial intelligence (AI) boom continued.
Roundhill Memory ETF Demand Is Nearing $10B AUM
DRAM jumped to a record high of $55, up by 90% from its listing price in early April this year. It is matching towards the $10 billion assets level, making it one of the fastest-growing ETFs ever.
The surge has coincided with the rising demand for companies in the memory chip industry. This growth is expected to accelerate in the coming years as hyperscalers continue their capital expenditure spending.
Most companies in the ETF have reported strong financial results recently. For example, the most recent earnings showed that Micron (NASDAQ:MU) revenue surged to $23.86 billion in the fiscal second quarter, up sharply from $8 billion in the same period last year.
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