Micron Sees Revenue Growth on AI Chips, Plans New Memory Modules for AI Computers
• Micron's revenue grew 16% year-over-year last quarter, its first revenue growth in 6 quarters, partly due to AI-related chips • Micron is developing a new memory chip module called HBM3E for AI and supercomputing that will be in volume production in early 2024 • Micron sees potential for memory chips in AI-capable PCs and mobile devices, requiring more memory capacity • Micron is increasing capital spending in 2024 partly due to manufacturing HBM3E modules • Micron provides another investment opportunity, beyond Nvidia, for chipmakers capitalizing on the AI boom