Binance users doubled their flows to artificial intelligence (AI) memory stocks to $133 million last week, concentrating capital into a key theme even as the sector sold off.
The move ran against the tape. Memory names were selling off, yet SanDisk (SNDK) and Micron (MU) together accounted for 79% of net equity inflows on the platform.
Buyers Concentrate as Chips Fall
The figures come from Binance Research, whose weekly fund flow report covers the week ending July 8. Total net flow reached $169.2 million, down 12% from the prior week.
The decline reflects the July 4 holiday, which left only four US trading sessions. On a per-session basis, demand actually rose.
Technology attracted $191 million in inflows, accounting for 113% of the week’s $169 million net total. AI memory doubled to $133 million, making it the largest theme. SanDisk took $67 million, and Micron Technology took $66 million.
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That buying met falling prices. SNDK dropped 14% on July 2, even as demand for high-bandwidth memory (HBM) surges.
“Memory doubled through a drawdown triggered on 2 July by chip-sector headlines, including a report that Anthropic is developing its own AI chip, and extended by Samsung’s guidance-day sell-off,” Binance Research notes.
Traders Fund the Bet by Selling the Periphery
The money came out of AI-adjacent themes. Robotics and space saw $38 million and $31 million in outflows, respectively, the two largest theme outflows on record for the platform.
“Users bought the whole drawdown while selling their event winners: Tesla after blowout deliveries, SpaceX into its Nasdaq-100 inclusion,” the report added.
Industrials reversed by $59 million over the week. The pattern points to concentration in memory rather than rotation across the AI trade.
Binance users also sided with sell-side analysts over hedge funds. Those funds were reported as net sellers of chip stocks for a fourth straight week.
Nonetheless, leverage told a different story. The leveraged Micron ETF (MUU) fell 72% even as cash Micron doubled, so traders added exposure while cutting risk.
Binance Research said the next major test for the memory trade will come with SK Hynix’s Nasdaq debut on July 10. This could either broaden investor interest in memory stocks or divert flows away from Micron and SanDisk.
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