$MU CEO just pushed back hard on overbuild concerns.
Sanjay Mehrotra told CNBC the company sees no near-term point where supply catches up with demand. AI systems keep requiring more high-performance, low-power memory — and there's no scaling AI without it.
Micron has already signed more than 16 multi-year strategic customer agreements locking in supply for five years, with extension options and over $22 billion in commitments.
Data-center customers are still asking for roughly 50% more product than Micron can currently deliver.
New fabs don't begin meaningful volume ramps until mid-2027 or 2028. That timeline points to tight conditions lasting well beyond next year.
Memory is being treated less like a pure cyclical commodity and more like strategic infrastructure. The multi-year contracts and persistent shortfall are starting to reflect that shift.
Sanjay Mehrotra told CNBC the company sees no near-term point where supply catches up with demand. AI systems keep requiring more high-performance, low-power memory — and there's no scaling AI without it.
Micron has already signed more than 16 multi-year strategic customer agreements locking in supply for five years, with extension options and over $22 billion in commitments.
Data-center customers are still asking for roughly 50% more product than Micron can currently deliver.
New fabs don't begin meaningful volume ramps until mid-2027 or 2028. That timeline points to tight conditions lasting well beyond next year.
Memory is being treated less like a pure cyclical commodity and more like strategic infrastructure. The multi-year contracts and persistent shortfall are starting to reflect that shift.