Micron Technology reports 2026 HBM production is sold out

Micron Technology reports that its entire High Bandwidth Memory (HBM) production capacity for 2026 is already fully committed through fixed-price contracts. This surge in demand is driven by the transition of memory from a commodity to a strategic component for artificial intelligence systems. The company is currently scaling up the delivery of 12-layer HBM4 memory for Nvidia’s Vera-Rubin GPU platform.

To support long-term growth, Micron is investing $10 billion over the next decade into a new research center in Boise, Idaho, focused on AI-related memory and computing architectures. This expansion follows a period of significant financial growth, including a third fiscal quarter report showing revenue of $41.46 billion, a 345.7 percent increase year-over-year.

In tandem with this growth, Micron has announced leadership changes to prepare for an intensifying AI memory cycle. Manish Bhatia has been promoted to President & COO, while Scott DeBoer becomes President & Chief Technology & Products Officer. Despite the strong outlook, some analysts have expressed caution regarding market volatility and the capital-intensive nature of new HBM generations.