Micron shares jump as chip shortage projected to last beyond 2027 - MSN

Micron Technology's stock surged following its strong quarterly results, with revenue quadrupling and its share value tripling this year, driven by insatiable demand for memory chips. The company exte... Read original →

Micron’s rally reflects structural demand from AI infrastructure, not speculative sentiment. Technologically, the push toward sub-3nm logic and EUV is forcing memory to evolve toward higher-stack HBM and heterogeneous integration—TSMC’s CoWoS capacity is now the choke point. Regulatory pressures, especially U.S. export controls, compel Micron to lock long-term supply deals across Taiwan, China; Japan; and the U.S., inflating redundancy costs. With NVIDIA and others securing 16 multi-year agreements, Samsung and SK Hynix will escalate their HBM4 development and TSV yield battles. Even as industry capacity expands by 2028, AI cluster bandwidth demands will outpace supply ramps over the next 18 months, creating a paradox of high inventory yet persistent shortages. Memory has entered an era defined by capital intensity and technical moats—oligopolistic competition is now inevitable.