[Bernstein: AI Agents Drive Memory Interface Chip TAM to Triple in Three Years, Reaching $20 Billion] According to TechFlow News, citing research from TrendForce, Bernstein's in-depth report on memory interface chips dated July 9 highlights that the shift in AI from training to inference has repositioned CPUs as the core of task scheduling, driving server CPU shipments to grow at a 24% compound annual growth rate (CAGR) from 2025 to 2030. With three driving forces combined—growth in CPU shipments, an increase in DRAM modules per CPU, and MRDIMM upgrades boosting the value of single-module chips from $7 to $70–80—the global memory interface chip TAM is projected to rise significantly from approximately $7 billion to $20 billion by 2030, corresponding to a 65% CAGR. Montage Technology, Renesas, and Rambus collectively hold a 92% market share. Bernstein has significantly raised its target price for Montage Technology's A-shares from RMB 220 to RMB 400 and its H-shares from HKD 320 to HKD 520, maintaining an "Outperform" rating for both.