It seems like everyone wants to talk about Nvidia when the conversation turns to artificial intelligence (AI) infrastructure.
But there’s a quieter, less glamorous part of the AI build-out that has been generating some of the most staggering returns of 2026, and it barely gets a mention in the headlines: memory. When an AI model runs, it doesn’t just need processing power. It requires a large amount of working memory to hold data while computations are performed.
The chips doing that job are called high bandwidth memory, or HBM, and the companies that make it are drowning in demand that they can’t keep up with. That demand imbalance is exactly what the Roundhill Memory ETF (NYSEMKT: DRAM) is built around, and if the exchange-traded fund (ETF) keeps climbing the way it has, a stock split may not be far off. A record-breaking launch The Roundhill Memory ETF only started trading on April 2.