Micron Technology Says AI Memory Demand Still Outstrips Supply Through 2026, HBM4 Shipping Early

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Sat, February 14, 2026 astatine 6:09 AM CST 7 min read

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Micron says AI-driven representation request continues to outstrip proviso done 2026, with thin DRAM inventories and customers lone gathering a fraction of their needs, keeping manufacture conditions tight.
The institution is expanding capableness via node transitions and greenfield projects — notably the 1-gamma DRAM ramp, Idaho One (mid‑2027), the Tongluo tract (closing expected Q2, proviso late‑2027/2028) and a caller Singapore NAND fab (first wafer H2 2028) — meaning proviso constraints could widen into 2028.
Micron reports HBM4 is successful high‑volume accumulation with lawsuit shipments underway, yields connected track, and calendar Q1 shipments ramping earlier than antecedently guided, portion 2026 HBM capableness is already sold out.
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Micron Technology (NASDAQ:MU) executives told investors astatine Wolfe’s Auto, Auto Tech, and Semiconductor Conference that concern conditions person strengthened since the company’s astir caller net call, with request continuing to outstrip proviso crossed representation markets and choky manufacture conditions expected to persist beyond 2026.

Chief Financial Officer Mark Murphy, joined by Head of Investor Relations Satya Kumar, said Micron is seeing “significantly higher” request than it—or the industry—can supply. Murphy added that the institution is moving to grow capableness done a operation of node transitions and greenfield investments, portion besides progressing connected multi-year proviso agreements with customers seeking longer-term visibility and assurance.

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Micron: Accelerating HBM Ramp Extends Growth Into 2027

Murphy said request is being driven by AI systems that necessitate “more and amended memory” arsenic models turn larger, discourse windows extend, and reasoning becomes much intense. He described expanding “tokens generated” and a broader “re-architecture of representation systems” that is pushing high-performance representation deeper into strategy architectures.

He pointed to improving server request trends done 2025, noting that expectations moved from single-digit maturation to the “mid-teens” arsenic AI workloads expanded and began affecting adjacent accepted server demand. Murphy besides cited rising hyperscaler superior spending, saying expectations for 2026 are “close to $800 billion,” compared with “under $200 billion” a fewer years ago.

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