Elon Musk says "memory output is increasing by around 20% per year" amid AI spending doubts

Elon Musk, speaking on SpaceX’s latest earnings call, addressed doubts about whether heavy AI infrastructure spending is a bubble by highlighting an imbalance in the memory chip market, according to coverage of the call. He reportedly said memory production grows by roughly 20 percent per year while demand rises by 200 percent or more annually. The articles argue this gap makes memory a limiting factor in data-center expansion and could push prices higher. The analysis centers on Micron Technology, a maker of DRAM and high-bandwidth memory used in AI systems. Micron’s stock reached an all-time high in late June before pulling back, and the reports frame that decline as a potential buying opportunity rather than a warning sign.