Micron Chief Executive Sanjay Mehrotra said artificial intelligence has ended the memory industry's violent boom-and-bust cycle by transforming memory into strategic infrastructure for the AI era. Data-center customers are seeking roughly 50% more supply than Micron can currently produce, and Mehrotra expects demand to spread to autonomous vehicles, robotics and AI-enabled consumer devices. The company is investing $250 billion in U.S. manufacturing and research, including two fabs at its Boise, Idaho, campus with the first expected to begin wafer production in mid-2027. Micron has signed five-year strategic supply agreements with 16 customers and additional deals since its latest earnings call, improving demand visibility. In premarket trading on Friday, Micron shares were up 0.58% at $979.94. Analyst consensus is Buy with an average price target of $1,525, including recent upgrades from New Street Research to Buy at $1,250 and Citigroup at Buy with a lowered target of $1,150, plus Keybanc raising to Overweight at $1,750.