HBM investment increases, and Micron's 2024 capital expenditure forecast is raised to $8 billion
Micron Technology has slightly raised its capital expenditure forecast for 2024, as the US chip manufacturer invests heavily in producing high bandwidth storage (HBM) semiconductors to meet the growing demand of the artificial intelligence (AI) industry.
Micron Technology is one of the three major suppliers of HBM chips, which are an important component of hardware used in artificial intelligence servers. Micron's advanced HBM3E will be used for AI chip leader NVIDIA's H200 chip.
Micron announced in March that its HBM chip production capacity has been sold out in 2024, and the majority of the available production capacity for 2025 has also been allocated. Micron currently offers 8 layers of HBM and has started providing 12 layers of HBM samples.
Matt Murphy, Chief Financial Officer of Micron, stated that the 2024 capital expenditure forecast has been raised from the previous $7.5 billion to approximately $8 billion.
"By fiscal year 2025, we expect HBM to become a business worth billions of dollars," said Manish Bhatia, Chief Operating Officer of Micron.
Micron announced in March that its HBM chip production capacity has been sold out in 2024, and the majority of the available production capacity for 2025 has also been allocated. Micron currently offers 8 layers of HBM and has started providing 12 layers of HBM samples.
Matt Murphy, Chief Financial Officer of Micron, stated that the 2024 capital expenditure forecast has been raised from the previous $7.5 billion to approximately $8 billion.
"By fiscal year 2025, we expect HBM to become a business worth billions of dollars," said Manish Bhatia, Chief Operating Officer of Micron.