AdvertisementAdvertisementBusinessMicron logo is seen in this illustration taken June 11, 2026. REUTERS/Dado Ruvic/Illustration16 Jul 2026 09:02PM Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInAdd CNA as a trusted source to help Google better understand and surface our content in search results.Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST July 16 : Micron Technology on Thursday signed long-term agreements with automotive suppliers, including chip designer Qualcomm and audio products maker Harman, to secure memory and storage components that powers AI-enabled vehicles.The agreements come as the industry races to expand manufacturing capacity to meet the booming demand for memory chips due to the rapid adoption of AI tools.These chips are used in data centers, consumer electronics and vehicles, where they support AI-enabled features such as ADAS and digital cockpits.Micron, the only U.S.-based manufacturer of high bandwidth memory chips used with Nvidia's AI processors, has also seen the extraordinary demand, allowing it and rivals SK Hynix and Samsung Electronics to charge premium prices.Show MoreShow LessThe chipmaker's agreements, including those with auto parts suppliers Visteon, JOYNEXT, DENSO, Astemo, and Hyundai Mobis, aim to offer stable supply and pricing for better production planning and investments in future advanced vehicle platforms."As vehicles become increasingly software-defined, automakers need technology platforms that bring together high-performance compute, connectivity, memory and storage," said Cristiano Amon, president and CEO of Qualcomm.Micron CEO Sanjay Mehrotra said in June the company signed 16 strategic customer agreements, as he expects data center-driven growth will be increasingly complemented by AI-enabled features in smartphones, high-end PCs, automotive applications and robotics.Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST