By Philip van Doorn and Hannah Pedone
Big Tech companies are willing to pay astronomical prices for AI memory components, helping spark a dramatic turnaround in Micron's finances
Micron is now one of the most profitable companies in America.
Three years ago, Micron Technology was losing money. Now, it's one of the most profitable companies in the U.S.
That dramatic transformation reflects how essential memory chips have become to the artificial-intelligence wave. Micron (MU) and its few rivals can't make enough chips to satisfy the demand, and AI companies are willing to pay sky-high prices for what's available.
