Next trade after Memory? Equipment layer?

AI Model Demand
↓
Hyperscaler buys NVDA/AMD GPU
↓
GPU requires HBM memory to function
↓
HBM demand explodes → Memory makers sell out capacity
↓
Memory makers need to expand HBM capacity
↓
They order semiconductor equipment (etch, deposition, inspection)
↓ [12–18 month lag]
Equipment companies book orders → Revenue recognised on delivery
↓
Equipment companies order specialised materials and subsystems
↓ [additional 6–12 month lag]
Sub-tier suppliers (gases, chemicals, components) see revenue surge