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sanjing911
08-21

这篇文章不错，转发给大家看看

美光CEO：AI彻底重写存储芯片周期逻辑，客户需求超出公司供给约50%

Mehrotra称，AI使存储芯片从一个高度周期性的大宗商品市场，转变为AI基础设施不可或缺的战略性组件。数据中心客户目前的采购意愿约为美光实际可承诺供应量的150%，即需求超出供给约50%，公司产能仍无法满足市场需求。存储采购模式也从"比价竞标"转向与客户协同设计。

美光CEO：AI彻底重写存储芯片周期逻辑，客户需求超出公司供给约50%

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}\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n美光CEO：AI彻底重写存储芯片周期逻辑，客户需求超出公司供给约50%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-08-21 08:42</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>AI驱动的存储需求正在颠覆这一行业延续数十年的繁荣与萧条周期。</p>\n<p>据CNBC报道，<a href=\"https://laohu8.com/S/MU\">美光科技</a>（Micron）首席执行官Sanjay Mehrotra周四（8月20日）表示，人工智能已从根本上改变了存储芯片行业的需求逻辑，使其从<strong>一个高度周期性的大宗商品市场，转变为AI基础设施不可或缺的战略性组件</strong>。他在接受CNBC《Mad Money》节目采访时直言：</p>\n<blockquote>\n<p>&#34;今天没有存储就没有AI。AI系统需要更多存储、更高性能的存储、更低功耗的存储。存储的价值，这个等式已经彻底改变。&#34;</p>\n</blockquote>\n<p>在需求端，Mehrotra透露，<strong>数据中心客户目前的采购意愿约为美光实际可承诺供应量的150%，即需求超出供给约50%，公司产能仍无法满足市场需求</strong>。与此同时，美光正通过长期战略协议锁定客户需求，以降低对现货市场波动的敞口——这是该行业结构性转变的又一重要信号。</p>\n<h2>AI重塑存储需求结构，周期性逻辑面临瓦解</h2>\n<p>存储芯片行业长期以来以周期性著称：需求旺盛时厂商扩产，产能过剩随即压低价格，行业随之陷入低谷。这一循环在过去数十年间反复上演。</p>\n<p>Mehrotra认为，AI正在打破这一规律。他从业芯片行业逾40年，此前曾联合创办SanDisk，对行业周期有深刻认知。在他看来，AI带来的是一种更具持续性的结构性需求，而非短期脉冲式拉动。</p>\n<blockquote>\n<p>&#34;存储今天是不可或缺的，这就是为什么我称它为AI时代的战略基础设施。&#34;</p>\n</blockquote>\n<p>他进一步指出，AI对存储的需求不仅限于数据中心，自动驾驶汽车、机器人以及AI赋能的消费电子设备，<strong>未来都将需要大幅增加存储容量</strong>。这意味着需求来源更加多元，行业的需求基础比以往任何时候都更为宽广。</p>\n<h2>存储从&#34;比价采购&#34;转向&#34;协同设计&#34;，议价逻辑根本转变</h2>\n<p>AI不仅改变了存储的需求量级，也改变了客户采购存储的方式，进而影响美光的市场定位与定价能力。</p>\n<p>Mehrotra表示，过去客户采购存储芯片的逻辑相对简单——广泛询价，选择报价最低的供应商。但随着AI系统对存储性能要求日益严苛，存储必须与处理器及整体系统协同设计，才能充分发挥性能。这使得存储从一个可替换的通用组件，演变为决定整个系统性能的关键变量。</p>\n<p>&#34;<strong>我们越来越早地与客户在其开发周期的早期阶段紧密合作</strong>，&#34;Mehrotra说，&#34;<strong>我们的客户认识到存储的价值，因为存储正是使他们能够设计出推动自身增长引擎的产品的关键所在。</strong>&#34;</p>\n<p>分析认为，这一转变对美光的商业模式具有深远意义：<strong>更深度的客户绑定、更早介入产品开发，意味着更强的定价权和更稳定的收入来源。</strong></p>\n<h2>产能缺口显著，长期协议锁定需求能见度</h2>\n<p>尽管美光正在大规模扩产，但Mehrotra坦承，公司目前的产能仍远不足以满足市场需求。</p>\n<p><strong>&#34;我们所有终端市场的所有客户，都会买走我们能生产的一切，&#34;他说，并特别指出，数据中心客户目前希望获得的供应量，约比美光能够承诺的多出50%。</strong></p>\n<p><strong>为应对这一供需缺口并增强需求端的可预测性，美光正积极推进长期战略合作协议。</strong>在6月底最近一次财报电话会议上，美光宣布已与16家客户签署五年期战略协议。Mehrotra在本次采访中透露，此后公司又新增签署了更多协议。</p>\n<p>&#34;他们已承诺接收供应，&#34;Mehrotra说，&#34;这给了我们需求方面的保障。&#34;</p>\n<p>长期协议的推进，标志着美光正在系统性地降低对现货市场价格波动的依赖——这对于一家历史上深受周期波动困扰的企业而言，是一次重要的商业模式升级。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/97dc49a1c38f37d8c33d7241fccf9976","relate_stocks":{"BK4579":"人工智能","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","MUD":"1倍做空MU ETF-Direxion","MUG":"Leverage Shares 2X Long MU Daily ETF","FAI":"First Trust Bloomberg Artificial Intelligence ETF","SOXX":"iShares费城交易所半导体ETF","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","BOBP":"CORE16 Best of Breed Premier Index ETF","MULL":"2倍做多MU ETF-GraniteShares","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","BK4532":"文艺复兴科技持仓","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","BAI":"iShares A.I. 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Franklin Technology A (acc) SGD-H1","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","WLDR":"Affinity World Leaders Equity ETF"},"source_url":"https://wallstreetcn.com/articles/3779960","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2661253768","content_text":"AI驱动的存储需求正在颠覆这一行业延续数十年的繁荣与萧条周期。\n据CNBC报道，美光科技（Micron）首席执行官Sanjay Mehrotra周四（8月20日）表示，人工智能已从根本上改变了存储芯片行业的需求逻辑，使其从一个高度周期性的大宗商品市场，转变为AI基础设施不可或缺的战略性组件。他在接受CNBC《Mad Money》节目采访时直言：\n\n\"今天没有存储就没有AI。AI系统需要更多存储、更高性能的存储、更低功耗的存储。存储的价值，这个等式已经彻底改变。\"\n\n在需求端，Mehrotra透露，数据中心客户目前的采购意愿约为美光实际可承诺供应量的150%，即需求超出供给约50%，公司产能仍无法满足市场需求。与此同时，美光正通过长期战略协议锁定客户需求，以降低对现货市场波动的敞口——这是该行业结构性转变的又一重要信号。\nAI重塑存储需求结构，周期性逻辑面临瓦解\n存储芯片行业长期以来以周期性著称：需求旺盛时厂商扩产，产能过剩随即压低价格，行业随之陷入低谷。这一循环在过去数十年间反复上演。\nMehrotra认为，AI正在打破这一规律。他从业芯片行业逾40年，此前曾联合创办SanDisk，对行业周期有深刻认知。在他看来，AI带来的是一种更具持续性的结构性需求，而非短期脉冲式拉动。\n\n\"存储今天是不可或缺的，这就是为什么我称它为AI时代的战略基础设施。\"\n\n他进一步指出，AI对存储的需求不仅限于数据中心，自动驾驶汽车、机器人以及AI赋能的消费电子设备，未来都将需要大幅增加存储容量。这意味着需求来源更加多元，行业的需求基础比以往任何时候都更为宽广。\n存储从\"比价采购\"转向\"协同设计\"，议价逻辑根本转变\nAI不仅改变了存储的需求量级，也改变了客户采购存储的方式，进而影响美光的市场定位与定价能力。\nMehrotra表示，过去客户采购存储芯片的逻辑相对简单——广泛询价，选择报价最低的供应商。但随着AI系统对存储性能要求日益严苛，存储必须与处理器及整体系统协同设计，才能充分发挥性能。这使得存储从一个可替换的通用组件，演变为决定整个系统性能的关键变量。\n\"我们越来越早地与客户在其开发周期的早期阶段紧密合作，\"Mehrotra说，\"我们的客户认识到存储的价值，因为存储正是使他们能够设计出推动自身增长引擎的产品的关键所在。\"\n分析认为，这一转变对美光的商业模式具有深远意义：更深度的客户绑定、更早介入产品开发，意味着更强的定价权和更稳定的收入来源。\n产能缺口显著，长期协议锁定需求能见度\n尽管美光正在大规模扩产，但Mehrotra坦承，公司目前的产能仍远不足以满足市场需求。\n\"我们所有终端市场的所有客户，都会买走我们能生产的一切，\"他说，并特别指出，数据中心客户目前希望获得的供应量，约比美光能够承诺的多出50%。\n为应对这一供需缺口并增强需求端的可预测性，美光正积极推进长期战略合作协议。在6月底最近一次财报电话会议上，美光宣布已与16家客户签署五年期战略协议。Mehrotra在本次采访中透露，此后公司又新增签署了更多协议。\n\"他们已承诺接收供应，\"Mehrotra说，\"这给了我们需求方面的保障。\"\n长期协议的推进，标志着美光正在系统性地降低对现货市场价格波动的依赖——这对于一家历史上深受周期波动困扰的企业而言，是一次重要的商业模式升级。","news_type":1,"symbols_score_info":{"WUGI":0.6,"DISK":0.6,"EMSF":0.6,"VGT":0.6,"FTXL":0.6,"PTF":0.6,"IXN":0.6,"AIQ":0.6,"FTEC":0.6,"SMU00main":0.6,"USXF":0.6,"SHOC":0.6,"MUU":0.6,"BAI":0.6,"FAI":0.6,"FXL":0.6,"MU":1.95,"CGGO":0.6,"SMH":0.6,"IETC":0.6,"FDTX":0.6,"CHPX":0.6,"EGGY":0.6,"SOXX":0.6,"EFIV":0.6,"MIC":0.6,"WLDR":0.6,"XNTK":0.6,"AIFD":0.6,"AIS":0.6,"LEGR":0.6,"BOBP":0.6,"TTXU":0.6,"MULL":0.6,"MUZ":0.6,"PSI":0.6,"RULE":0.6,"MUD":0.6,"XLK":0.6,"SOXQ":0.6,"DRMY":0.6,"JGRO":0.6,"HBMX":0.6,"MUG":0.6,"CHPS":0.6,"MUYY":0.6,"TRFK":0.6}},"isVote":1,"tweetType":1,"viewCount":266,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":27,"optionInvolvedFlag":false,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}