Micron Expands Capacity To Address Shortage

Micron Technology CEO Sanjay Mehrotra said on CNBC’s 'Squawk on the Street' from Davos on Tuesday that a global memory-chip shortage is driven by rising AI demand and called memory a 'strategic asset' not just a component. He said Micron is expanding manufacturing, signed a letter of intent for Powerchip’s P5 site, and plans about $200 billion in US investment to lift capacity amid 100% sell-through to AI leaders; shares have risen 255.74% year-over-year, closing at $389.11 on Wednesday.