Micron Signs Multi-Year Memory Deals With Seven Auto Suppliers

Micron Technology, Inc. signed multi-year strategic customer agreements (SCAs) with seven automotive technology partners to secure the supply of memory and storage components for next-generation, AI-enabled vehicles. The partners include Qualcomm Inc., Visteon Corp., HARMAN, JOYNEXT, DENSO Corporation, Astemo, and Hyundai Mobis Co., Ltd.

These agreements lock in supply volumes and pricing for three to five years, moving away from the industry standard of annual renewals to provide stability and greater visibility for production planning. The initiative supports the development of software-defined vehicle features, such as advanced driver assistance systems (ADAS), digital cockpits, and infotainment systems.

The move comes as Micron faces intensifying competition from SK hynix and Samsung Electronics, the latter of which recently overtook Micron as the automotive memory market leader. Following the announcement on Thursday, Micron shares on the Nasdaq fell 5.13% to $857.95.