Micron CEO Expects Chip Shortages To Continue Till 2023, SSD & DRAM Prices To Climb

Sanjay Mehrotra, Micron's president, and CEO, recently met at the White House with President Biden to discuss competition and supply chains. On Thursday, Fox Business sat down with the Micron CEO to discuss the current chip shortage and his viewpoints on the current industry.

Micron: The chip sector will not see improvement until next year, and the need for partnering with private sectors are stressed to President Biden

Mehrotra's statements to Fox Business are parallel to comments from Jensen Huang and Dr. Lisa Su of NVIDIA and AMD, respectively. He agrees that the chip shortage is improving but that full restocking of semiconductor chips will not be completed in 2023. The Micron president also raises the question about the U.S. Government and private sectors partnering to increase the U.S. to a prime position of leading the chip market sector.

There are parts of the chip shortage that will continue to improve as we go through the calendar year 2022 and some parts of this will continue into 2023 as well. Of course, Micron continues to make the necessary investments to meet the demand growth that our customers are bringing to us.

The Micron CEO expressed that Asian nations had helped the semiconductor and chip industries in several years.

Mehrotra also points to the automobile industry as having a large stake in improving the chip sector.

As they become increasingly autonomous, they are actually becoming like data centers on wheels, right? I mean, they have as much memory and storage in them.

Republican Governor Eric Holcomb of Indiana was also in attendance at the meeting and voiced the need for immediacy of fixing the shortages and seeking to bring the U.S. to a central strategic market stance.

We've got to get this thing passed through Congress, come to some agreement, pass it, get it on the president's desk sign and then get at the business of not just catching up with the competition around the world, but passing them up and taking a leadership position.

Mehrotra's statements continue to show agreeance with the NVIDIA and AMD leaders when it came to the effect that the coronavirus pandemic placed on the semiconductor industry, especially when more individuals were working remotely from their homes.

All of that has driven demand from the data center to the PCs to smartphone intelligent devices at the edge. All of these have driven the demand of Micron has been investing for a considerable period of time in leading with advanced technologies and bringing them into high-volume productions.

When Fox Business last spoke with Mehrotra in October 2021, the Micron CEO stated that his company would invest over $150 billion over the next ten years in research, development, and manufacturing of memory, such as SSDs.