Micron Technology posted fiscal Q3 2026 revenue of $41.5 billion, a record figure driven almost entirely by insatiable demand for high-bandwidth memory, the specialized chip architecture that powers modern AI systems. Adjusted earnings per share came in at $25.11. Shares jumped roughly 15% in after-hours trading following the release.
The AI memory gold rush
High-bandwidth memory, or HBM, is the chip category sitting at the center of all this. Every major AI model training run depends on it.
Micron has reportedly sold its entire 2026 HBM production under long-term contracts. Every chip coming off the line already has a home.
The HBM total addressable market is projected to surpass $100 billion by 2027, according to the company’s research.
