SemiAnalysis says memory (DRAM, NAND and HBM) share of hyperscale data-center capex in NVIDIA systems could exceed 30% by end-2026 and top 40% in 2027. The note follows debate after Micron results; some market participants pointed out memory is typically only low‑teens pct of a server BOM and questioned such high capex share. SemiAnalysis responded in May after prices rose faster than expected and expects the market to better appreciate the trend in coming months.

Egypt central bank: M2 money supply rose 19.6% YoY in May.

The New York Times, citing four people familiar with the talks, reports Iranian President Pezeshkian visited Supreme Leader Mujtaba Khamenei during final negotiations after Khamenei hesitated to approve a preliminary U.S.-Iran ceasefire. Pezeshkian told Khamenei the U.S. maritime blockade was choking Iran’s economy and said he would resign if the deal was rejected; central bank governor Abdolnaser Hemmati warned in a letter of a severe budget crisis, saying key food and medical supplies would be exhausted by end‑August if the blockade continued and that Iran could not sell oil at required volumes or find alternative trade routes. Those interventions were cited as pivotal in Khamenei’s eventual support; Khamenei said he opposed the deal in principle but instructed the president to proceed if the Supreme National Security Council backed it — Pezeshkian said the council approved the agreement 12‑1.