The memory chip sector is rallying due to a sustained 'supercycle' driven by high demand from the artificial intelligence (AI) industry. This has led to a global shortage of memory chips, including DRAM and NAND, boosting prices and manufacturer profitability. News of Chinese memory maker CXMT entering the NAND flash market to address this shortage further highlights the sector's strong fundamentals. Positive analyst commentary and a forecast from Bank of America for the semiconductor market to nearly double by 2030 are also contributing to the positive sentiment.