Micron's Customers Are Putting Up $22 Billion, and Its CEO Says Data Centers Want 50% More Memory Than It Can Ship

Micron Technology has secured $22 billion in customer deposits through take-or-pay contracts with data center, consumer, and automotive customers, with 14 agreements representing ~$100 billion in minimum contracted revenue through 2030. CEO Sanjay Mehrotra stated that data center customers want 50% more memory supply than Micron can deliver, driven by AI demand. However, only ~20% of DRAM and ~33% of NAND volumes are currently under contract, leaving most business exposed to spot market volatility. Supply is expected to remain tight through 2027, with Micron's new fabrication plants coming online in mid-2027 and late-2028.