Micron Technology announced 16 multi-year strategic agreements tied to AI-optimized memory chips on June 24, with customers collectively putting up approximately $22 billion in cash deposits and related commitments. Fourteen of those contracts are structured as take-or-pay deals, meaning customers are on the hook for roughly $100 billion in minimum contracted revenue whether they take delivery or not.
The numbers behind the pivot
Micron’s fiscal Q3 2026 earnings landed well above expectations. Adjusted earnings per share came in at $25.11, compared to the $21.05 analysts had penciled in. Revenue hit $41.46 billion, blowing past the $36.28 billion forecast.
Shares surged 13-17% in after-hours trading.
The company also issued Q4 revenue guidance of $49 billion to $51 billion.
