Memory demand seen as Micron ‘AI supercycle’ year
Market coverage is calling 2026 a landmark year for memory as Micron’s ‘AI supercycle’ thesis gains traction — unprecedented HBM demand for data-center AI workloads is driving bullish expectations for memory makers argued. That thesis underpins sector-level capex and pricing dynamics across the supply chain.
Micron said its 2026 HBM capacity is fully booked, with orders already extending into 2027. financialcontent.com Management raised fiscal‑2026 capital spending to roughly $20 billion (up from $18 billion) and said the increase will mainly fund HBM and 1‑gamma DRAM capacity as it pulls forward equipment orders. mlq.ai Industry trackers warned 2026 bit‑growth will be constrained because only Samsung and SK hynix can slightly expand production this year, keeping overall DRAM/HBM supply tight; hyperscalers have meanwhile locked long‑term deals that leave limited spot market availability. trendforce.com Company management stated it has “completed agreements on price and volume for our entire calendar 2026 HBM supply,” and it now projects HBM’s total‑addressable market will reach about $100 billion by 2028 (roughly a 40% CAGR from 2025). earningscall.biz
