Bank of America: AI Memory Supply Shortage Will Persist Until At Least the End of Next Year

According to a report by Jinse Finance, on June 26, Bank of America Securities senior semiconductor analyst Vivek Arya stated that the memory industry is undergoing a fundamental structural transformation driven by artificial intelligence. Micron Technology's latest quarterly performance indicates that the capacity required to manufacture storage chips optimized for artificial intelligence is three to four times that of traditional computing products. In a recent interview, he explained, "Without memory chips, there is no artificial intelligence," and pointed out that the recent surge in profits—far exceeding expectations—reflects a permanent shift rather than a typical cyclical upswing. Arya also predicted that the supply-demand imbalance for AI memory will persist until at least the end of next year. He mentioned that Micron has announced milestone agreements with 16 different customers, providing multi-year visibility in terms of pricing, volume, and supply. "I believe the durability of this cycle is different this time," he said, emphasizing that even if memory chip manufacturers want to increase production, physical constraints such as land, power, and manufacturing space make rapid expansion nearly impossible.