SAN DIEGO (dpa-AFX) - U.S. memory chipmaker Micron Technology Inc. (MU) on Thursday announced that it has signed strategic customer agreements with major automotive suppliers to secure long-term supply of memory and storage for next-generation vehicles.
On the Nasdaq, shares of Micron were losing 5.13 percent, changing hands at $857.95.
The agreements are with Qualcomm Inc. (QCOM), Visteon Corp. (VC), Harman, a unit of Samsung Electronics, Joynext, Denso Corp. (6902.T), Astemo and Hyundai Mobis Co., Ltd (012330.KS).
Micron said the deals are aimed at supporting demand for memory and storage in connected, software-defined vehicles, including systems for infotainment, advanced driver assistance and autonomous features.
The agreements give Micron and its partners greater visibility on production planning, pricing and future requirements, helping to support investment in manufacturing capacity and technology development.
Automotive suppliers require consistent component supply over long product lifecycles, making reliability of memory and storage critical for vehicle production at scale, Micron said.
The company noted that the agreements were discussed on its fiscal third-quarter 2026 earnings call.
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