Micron Technology Inc.warned that it will need to spend heavily on production to meet burgeoning demand, overshadowing a generally upbeat forecast from the largest US maker of computer memory chips.
Capital spending will exceed $25 billion this fiscal year, which runs through August, the company said as part of its quarterly report on Wednesday. Analysts had estimated $22.4 billion. Micron added that 2027 expenditures will increase more than $10 billion from the prior year.
Micron CEO Sanjay Mehrotra is ramping up spending to meet soaring AI computing demand.
Photographer: Kyle Green/Bloomberg
“We project our fiscal 2027 capex to step up meaningfully,” Chief Executive Officer Sanjay Mehrotra said during a conference call.
The heavy spending reflects ...
