Trigger: user promote verb ("promote the nearline storage; no deployment yet as ui is being worked on") on the DRAFT promote/fold/hold decision filed in TASKS-PERSPECTIVES.md.

Decision: promote as a standalone physics-down perspective — not (b) fold into memory-supercycle and not (c) hold. Rationale is the draft's own load-bearing claim: nearline HDD is density-led and supply-disciplined (the majors refuse to add unit capacity → no 2027 capacity cliff), which is mechanically the opposite of the memory chip cycle's supply-flood roll. Folding it into memory-supercycle would collapse exactly the distinction that makes the thesis worth tracking. STX/WDC stay in memory-supercycle.key_tickers too — cross-link, not ownership; this perspective re-frames them as HDD, not memory-cohort.

What landed: ACTIVE.json entry added (status active, priority medium, paradigm physics-down, 6 key_tickers STX/WDC/HOCPY/5991.T/SHWDF/NJDCY, full watch_for); README frontmatter + banner + status line flipped DRAFT → ACTIVE; site-consumable package 2026-06-03-nearline-storage-promoted assembled and gated for the desk UI feed.

Capacity: this is the 10th active perspective (over the 8-active soft cap; ACTIVE.json was at 9). Not relieved this touch — flagged for a retire/downgrade pass at the next perspective-capacity touch (candidates: the SpaceX liquidity-event perspective decays after the 2026-06-12 IPO window; gulf-infrastructure-strike carries a 2026-09-30 relevance_until). Promote was the explicit instruction; capacity hygiene is a separate, deferred editorial call.

Deploy: local staging only — no prod deploy per user ("no deployment yet as ui is being worked on"). Package renders in the local desk mirror; deploy-tickertape deferred to the user.

Open / carried: HOCPY segment-level financials (HDD-glass share of Hoya revenue/EBIT) still owed before the "best risk/reward" upstream pick is conviction rather than layer-position inference; Q4 FY26 prints (~late July/Aug) are the next real catalyst; nearline-storage watchlist is not yet wired into a recurring scan slot (orphan-watchlist follow-up). [resolved 2026-06-03 — see below.]