Sanjay Mehrotra

Mehrotra expects memory supply to improve only gradually in 2028 and says it is unclear when supply and demand will rebalance.

CEO Sanjay Mehrotra expects supply to improve gradually in 2028, though he has said it is unclear when supply and demand will come back into balance.

Mehrotra expects memory supply-demand to be tighter in 2027 and 2028 than in 2026, with NAND remaining supply constrained in both years.

Micron (MU) CEO Sanjay Mehrotra said he expects memory supply and demand conditions to be tighter in 2027 and 2028 than in 2026. He sees NAND staying supply constrained in both years.

Mehrotra said memory supply-demand will be much tighter in 2027 and 2028, with over 75% of fiscal 2027 output already committed.

Micron CEO Sanjay Mehrotra told investors that supply-demand conditions will be "much tighter" in calendar 2027 and 2028 than they were this year. More than 75% of Micron's planned fiscal 2027 output is already committed, he said, with new customer conversations now centred on 2028 volumes.

Mehrotra told investors memory shortages will persist well beyond 2028 even as Micron adds capacity such as the Idaho One and Tongluo fabs.

Mehrotra has gone further than most of his peers in saying how long this lasts: memory shortages, he told investors, will persist well beyond 2028 even as Micron brings new capacity online, including its Idaho One fab expected around mid-2027 and the Tongluo site in Taiwan targeting late 2027 into 2028 output.

Mehrotra said Micron's HBM capacity is sold out through 2026 and he expects fiscal 2027 to be even stronger.

CEO Sanjay Mehrotra told analysts that HBM capacity is sold out through 2026 and that he expects fiscal 2027 to be even stronger.

Mehrotra told investors the memory shortage is structural rather than cyclical and will persist well beyond 2026 as AI data center demand outpaces supply.

The company has already warned that the broader memory shortage will outlast 2026, with CEO Sanjay Mehrotra telling investors the shortage is structural rather than cyclical and will persist well beyond 2026 as AI data center demand keeps outstripping supply.

Mehrotra said humanoid robots need about 10x the memory of an L2+ car, and the memory industry could enter a decades-long demand growth cycle starting around 2030.

Micron CEO Sanjay Mehrotra previously said that per-unit memory capacity in humanoid robots is 10 times that of an ordinary L2+ passenger car, and that the memory industry could enter a demand growth cycle lasting decades starting around 2030.

Mehrotra attributes humanoid robots' much larger memory needs to processing data from over a hundred sensors and running large models locally for millisecond-level control.

In his view, the gap stems from the need for humanoid robots to process data from more than a hundred sensors — vision, touch, force and others — simultaneously and to run large models locally for millisecond-level real-time control, placing extremely high demands on capacity, bandwidth and latency.

Mehrotra said each humanoid robot needs roughly ten times the storage of an L2+ car and that memory demand could see multi-decade sustained growth starting around 2030.

Micron’s CEO, Sanjay Mehrotra, stated that the storage capacity required per humanoid robot is roughly ten times that of a typical L2+ passenger vehicle. The storage industry may enter a multi-decade period of sustained demand growth beginning around 2030, driven by the need to simultaneously process data from hundreds of sensors and run large models locally for millisecond-level control.

Mehrotra warned that DRAM supply-demand will be considerably tighter in fiscal 2027 and 2028, with no clear timing for rebalancing despite added cleanroom capacity.

CEO Sanjay Mehrotra said on the 30 September earnings call that supply-demand conditions are likely to be considerably tighter in fiscal 2027 and 2028, and that Micron cannot say when balance will return even with planned additional DRAM cleanroom capacity.

Mehrotra said memory and storage supply and demand are likely to diverge further, with Micron unable to say when the market will rebalance through fiscal 2027 and 2028.

Chief executive Sanjay Mehrotra said at the 30 September earnings call that supply and demand for memory and data storage are likely to diverge even further.

Mehrotra said customer prepayment commitments tied to long-term supply contracts have reached $32 billion, with 26 strategic agreements expected to cover over 35% of revenue through 2030.

CEO Sanjay Mehrotra said on the earnings call that customer financial commitments, mostly cash prepayments tied to long-term supply contracts, have climbed to $32 billion. Micron has now signed 26 strategic customer agreements that Mehrotra estimates will cover more than 35% of its revenue through 2030.

Mehrotra said Micron is increasing investment in technology, products and manufacturing to drive AI with customers, and that Strategic Customer Agreements bolster confidence in the durability of its financial performance.

We are increasing our investments in technology, products and manufacturing to help drive [AI] forward with our customers, and our Strategic Customer Agreements provide added confidence in the durability of Micron's financial performance,

Mehrotra said over 75% of Micron's planned 2027 output is already committed and expects tight memory supply through 2028 as customers negotiate future allocations.

Micron CEO Sanjay Mehrotra said during the US chipmaker's Sept. 30 earnings call that more than 75 percent of its planned 2027 output had already been committed. Mehrotra also projected tight supply conditions through 2028, with customers already negotiating future allocations.

Mehrotra said Micron posted record fiscal 2026 results and expects fiscal 2027 to be even stronger.

Micron delivered record fiscal 2026 results, and we expect an even stronger fiscal 2027.

Mehrotra said Micron's multi-year take-or-pay customer agreements improve supply planning and make its financial performance more durable and predictable.

These multi-year take-or-pay agreements sharpen our long-term supply planning and enhance the durability and predictability of our strong financial performance.

Mehrotra said next year's HBM volume is commanding prices much higher than 2026 prices, with much of 2027 HBM already sold out.

much higher than 2026 prices.

Mehrotra said physical AI could become a significant driver of memory and storage demand by the end of the decade.

Micron chief executive Sanjay Mehrotra said on the company's fiscal fourth-quarter earnings call in September that physical AI could become a significant driver of memory and storage demand by the end of the decade.

Micron's CEO said physical AI could become a significant driver of memory and storage demand by the end of the decade.

physical AI can become a significant driver of memory and storage demand by the end of this decade.