Micron CEO Sanjay Mehrotra said artificial intelligence has fundamentally changed the memory business, historically prone to boom-and-bust cycles. The company is pursuing a planned $250 billion investment in U.S. manufacturing and research, including a Boise, Idaho, site with two fabs, with the first expected to begin producing wafers in mid-2027. Mehrotra said Micron still cannot meet demand, with data-center customers seeking roughly 50% more supply than the company can commit. Five-year strategic agreements with 16 customers, along with additional deals signed since late June, are giving Micron greater visibility into future demand.