Daniel Pilling

Daniel Pilling is a portfolio manager and senior research analyst at Sands Capital, where he co-manages the Global Growth strategy and focuses mainly on semiconductors. He writes and speaks on AI infrastructure, semiconductor demand, GPU technology, chip manufacturing bottlenecks, and geopolitics in the AI value chain.

Micron Rally Reflects AI Demand Outrunning Semiconductor Supply

Sands Capital portfolio manager Daniel Pilling argues Micron’s rally reflects a broader AI supply squeeze: demand is accelerating faster than semiconductor capacity can be added. Speaking on Bloomberg Technology, he said adoption remains early, suppliers have long lead times and pricing power, and the beneficiaries extend beyond Nvidia to memory, chip equipment, power providers and CPUs. He was more cautious on China’s chip advances, saying manufacturing constraints and the lack of ASML-like lithography remain a major barrier.

Bloomberg TechnologyMay 26, 20265 min read