Micron CEO: ‘We cannot fulfill’ demand for memory chips

Not only do we have more customers and customers wanting to do long-term supply agreements with us, but customers are also even the customers where we have already strategic customer agreements in place, they are bringing upsides to us for our demand. In fact, we cannot fulfill the demand of our customers. Customers are extending these agreements even now into 2031 timeframe. We did extensions as well as we did new agreements going into the 2031 timeframe. This gives us tremendous visibility, certainty of demand and that helps us plan our investments in manufacturing capacity with confidence. And of course, it provides the benefit of supply assurance to our customers and their ability to grow their business with confidence as well. So, this just reflects the importance of memory in the AI era. Memory is absolutely critical to be able to scale up AI to provide value to the end users and of course provide a strong experience as well because memory enhances the value proposition of the compute platforms that are being deployed and continuing to advance fast in the AI era.