Micron Locks in $22 Billion in Five-Year Memory Deals as AI Demand Sustains Price Highs

Micron secured $22 billion in customer commitments for memory chips through 2026-2031, reflecting sustained hyperscaler demand for AI infrastructure. The long-term pricing locks signal vendor confidence in tight supply conditions; fab capacity for advanced DRAM and HBM remains years from meaningful relief. The shift marks a structural change in memory purchasing—away from cyclical spot buying toward guaranteed volumes at fixed premiums, the pattern that elevated Micron to $1 trillion market capitalization in May 2026.