Micron forecasts revenue above estimates on AI-driven memory chip demand

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Micron Technology forecast fourth-quarter revenue above Wall Street estimates on Wednesday on robust demand for its high-bandwidth memory (HBM) chips used in artificial intelligence data centers.

The memory chip maker reported a nearly 50% jump in third-quarter sales of its HBM chips from the previous three months, and said it will continue to invest in the chips.

The results and the investment plans underscore a rise in demand for AI chips such as those from Nvidia and Advanced Micro Devices, both of which use Micron‘s memory chips.

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Micron forecasts revenue above estimates on AI-driven memory chip demand



Micron Technology forecast fourth-quarter revenue above Wall Street estimates on Wednesday on robust demand for its high-bandwidth memory (HBM) chips used in artificial intelligence data centers.

The memory chip maker reported a nearly 50% jump in third-quarter sales of its HBM chips from the previous three months, and said it will continue to invest in the chips.

The results and the investment plans underscore a rise in demand for AI chips such as those from Nvidia and Advanced Micro Devices, both of which use Micron‘s memory chips.

Many cloud…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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