Micron CEO Sanjay Mehrotra explains why the company's memory technology sees huge demand in the age of artificial intelligence in 'The Claman Countdown.'
Micron's CEO, Sanjay Mehrotra, described the company's new $250 billion investment as the chip-making giant responds to growing demand for memory storage in the age of artificial intelligence.
The Boise-based technology company announced Thursday that the multibillion-dollar investment will help Micron's long-term goal of producing 40% of its DRAM chips in the United States.
“The demand for memory is at an all-time high. Memory is in short supply right now,” Mehrotra told “The Claman Countdown” on Thursday.
With existing semiconductor facilities in Idaho and Virginia, Micron is expanding its footprint by opening a new manufacturing facility in central New York.
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Sanjay Mehrotra, CEO of Micron, testifies during a Senate Commerce, Science, and Transportation hearing on semiconductors on Wednesday, March 23, 2022. (Tom Williams/CQ-Roll Call, Inc via Getty Images/Getty Images)
FOX Business' Liz Claman joined the CEO during the groundbreaking for the new facility.
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Mehrotra told Claman that memory is the key to powering new AI and said that data centers make up more than 50% of the demand.
“Memory is important for AI,” he said. “AI is driving demand, and that's where the value of memory is really high because it enables AI functionality.”
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More memory allows AI to increase accuracy, speed and intelligence, Mehrotra explained.
But while data centers drive demand for Micron, demand for memory comes from nearly every modern technology, including smartphones, computers and cars, that rely on data storage.
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“Demand is very strong for memory today,” said the CEO. “Memory is critical to AI across the data center, consumer devices, automotive, industrial, defense, aerospace.”
“Your phone, your PC, your car, they all need memory,” he added. “Cars, fully self-driving cars are like data centers on wheels. They need a lot of memory and storage.”
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Micron's technologies, including DRAM, NAND and NOR chips, support the evolution of computing applications and artificial intelligence platforms. The company plans to invest $3 billion in the domestic semiconductor industry to strengthen America's manufacturing sector.
Mehrotra said demand will only grow as advanced technology continues to evolve, noting that complex systems require more computing power and memory capacity.
Micron Technology headquarters in Boise, Idaho, US, on Sunday, March 28, 2021. (Photographer: Jeremy Erickson/Bloomberg via Getty Images/Getty Images)
“In the future, if we look at robots coming in, fully self-driving cars, all of these require intelligence. Intelligence is about data. Where does data live? It lives in memory,” he said.
Micron expects the program to create thousands of direct and indirect jobs while expanding domestic chip manufacturing.
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Mehrotra said he hopes the investment will help boost domestic production, even as growing demand continues to outstrip supply.
“Despite our best efforts to expedite delivery here, and around the world…
