Micron Technology is currently the shovel, and the AI gold rush is very, very real.
Micron reported fiscal third-quarter revenue of approximately $41.5 billion, up from roughly $9.3 billion in the same period a year earlier. The company nearly quadrupled its top line in twelve months, driven almost entirely by insatiable demand for high-bandwidth memory chips that power modern AI data centers.
Shares surged as much as 19% in after-hours trading following the announcement, marking the stock’s 40th record high of the year.
Why HBM chips are suddenly the most important product in tech
High-bandwidth memory, or HBM, is the specialized chip architecture that sits alongside AI accelerators like Nvidia’s GPUs and allows them to move enormous volumes of data fast enough to actually run large language models at scale.
