Investment firm Coatue predicts: Memory demand will grow 5x in the next 5 years! The bottleneck in AI development is shifting: from compute power to memory shortage. In recent years, AI = compute power + GPUs. But as AI evolves from 'chatbots' to 'autonomous agents,' the story has changed. - Current chatbots: stateless, starting from scratch with every conversation. - Future agents: long-term memory, running 24/7, proactively working for you. The fundamental difference between agents and chatbots: memory Key info: - HBM = working memory on the GPU - DRAM = the sticky notes on your desk - Long-term storage = the filing cabinet in the basement All three must collaborate at millisecond speeds for agents to truly become 'autonomous.' Coatue predicts: Memory demand will grow 5x in the next 5 years. NVIDIA's roadmap also shows: single GPU memory has grown 10x in 7 years. In short, without a memory layer, the era of independent autonomous agents won’t arrive.