If is a finite locally free morphism of schemes, we construct a symmetric monoidal “norm” functor $f_\otimes: \mathcal H_(S’) \to\mathcal H_(S)\mathcal H_*(S)$ is the pointed unstable motivic homotopy category over . If is finite 'etale, we show that it stabilizes to a functor , where is the -stable motivic homotopy category over . Using these norm functors, we define the notion of a normed motivic spectrum, which is an enhancement of a motivic -ring spectrum. The main content of this text is a detailed study of the norm functors and of normed motivic spectra, and the construction of examples. In particular: we investigate the interaction of norms with Grothendieck’s Galois theory, with Betti realization, and with Voevodsky’s slice filtration; we prove that the norm functors categorify Rost’s multiplicative transfers on Grothendieck-Witt rings; and we construct normed spectrum structures on the motivic cohomology spectrum , the homotopy K-theory spectrum , and the algebraic cobordism spectrum . The normed spectrum structure on is a common refinement of Fulton and MacPherson’s mutliplicative transfers on Chow groups and of Voevodsky’s power operations in motivic cohomology.

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