Micron Technology has sold out its entire 2026 supply of high-bandwidth memory (HBM) through multi-year contracts.
Surging demand from the artificial intelligence industry drove the pre-sold capacity.
The company is accelerating the shipment schedule for its next-generation HBM4 products.
Micron is proceeding with a $200 billion expansion of its U.S. manufacturing capacity to support AI-related memory chip production.
Analysts expect tight supply conditions to persist through 2027-2028.
This supply constraint allows Micron to maintain significant pricing power and profit margins.