Allegations of memory price-fixing have resurfaced with a new U.S. antitrust class action targeting Samsung, SK Hynix, and Micron, as discussed on the latest episode of DHUnplugged. The hosts, John C. Dvorak and Andrew Horowitz, revisited the 2005 DRAM price-fixing case, where Hynix paid $180 million, Samsung $300 million, and Infineon $160 million. The new lawsuit claims the same three companies now control 90% of DRAM and coordinated supply cuts as conventional DRAM prices jumped roughly 700% over four years, a scheme the hosts dubbed a 'ram job.'
The episode, titled 'Bulls in a Bubble Shop,' closed out the first half of 2026 with the S&P 500 up approximately 7.5% and the Dow above 52,000. AI hardware names have surged, with SanDisk up 780%, Micron 300%, Western Digital 240%, and Seagate 226%. However, Dvorak questioned the sustainability of the AI infrastructure boom, arguing that compute is heading back to the desktop via Nvidia Blackwell-powered mini machines, which could leave server farms underutilized and memory prices vulnerable to collapse.
Horowitz reserved particular scorn for the new Trump Accounts program, set to launch July 4, which provides a $1,000 Treasury-funded seed for newborns. He called it a 'forced financial literacy experiment wrapped in a political brand name with a socialist starter check to teach capitalism,' criticizing the perceived contradiction in using government funds to promote capitalist principles.
The hosts also covered a range of other topics: SpaceX's newly issued investment-grade bonds already underwater; Japan's yen hitting 162 to the dollar with hints of Bank of Japan intervention; PCE inflation climbing to 4.1%; and the Bank for International Settlements flagging AI-boom financial-stability risks. Chevron signed a 20-year data-center power deal with Microsoft for Project Kilby, Comcast is splitting off NBCUniversal and Sky, and the Interior Department slashed federal drilling bonds 95% to $25,000. Wendy's saw a brief meme-stock spike after CFO Steve Cyrilus arrived from Potbelly, while gold slipped below $4,000 and Bitcoin sank to $58,600.
Horowitz also previewed an upcoming Peter Schiff interview on The Disciplined Investor. The episode is available at dhunplugged.com and via Apple Podcasts, Spotify, and Amazon Music.
