Micron Confirms Structural HBM Supply Deficit Beyond 2027
Micron reported record data-center gross margin and said DRAM/NAND demand significantly exceeds supply through calendar 2027. ~$22B in customer prepayments to lock memory supply signals hyperscalers treat HBM access as a structural, not cyclical, bottleneck.
Prepayments suggest integrators are paying option premiums to secure HBM allocation years out, structurally embedding higher memory costs into H200/B100 BOMs into 2028.
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