Micron doubles down on AI memory chips, boosting investor potential

Micron Technology is betting big on the AI memory boom, with plans to scale its High Bandwidth Memory production to roughly 100,000 wafers per month by the end of 2026. That represents an increase of nearly 60,000 wafers per month from output levels that sat around 40,000 to 50,000 last year. The HBM4 pivot The expansion isn’t just about making more of the same chips. Micron is shifting its production mix toward 12-layer HBM4, the next-generation memory architecture designed to power advanced AI accelerators like Nvidia’s Vera Rubin platform. Early in 2026, HBM4 accounted for roughly 20% to 30% of Micron’s total HBM output. By year-end, the company expects that share to climb to around 50%. The ramp-up is moving fast, too. Micron’s HBM4 mass production is advancing at roughly twice the pace of its predecessor, HBM3E. Cumulative revenue from HBM4 shipments crossed the $1 billion mark by June 2026, a milestone the company highlighted during its earnings call. A unique but undersized position Micron holds a distinctive spot in the global memory market: it is the only US-based producer of HBM. The CHIPS Act, which provides substantial federal incentives for US chip production, has help...