Micron Q4 revenue $54.23B amid AI boom, EPS tops forecasts
Micron just posted a massive jump in fourth-quarter revenue, all thanks to the AI boom.
Its revenue hit $54.23 billion, way up from last year's $11.32 billion, and easily beat Wall Street's expectations.
Earnings per share also topped forecasts, showing just how much the rush for AI tech is shaking things up.
Micron stock surges, $250B investment
Micron's stock has soared more than 500% in the past year, fueled by a global memory chip shortage and big bets on AI hardware.
The company now expects even more growth next quarter, with projected revenue of $61.5 billion and a market value of more than $1.2 trillion, even though it trails SK Hynix and Samsung in market share.
Micron is also investing $250 billion into new US facilities and teaming up with NVIDIA to push high-bandwidth memory (HBM) tech, which CEO Sanjay Mehrotra calls a "strong roadmap for future HBM products" and says is working with NVIDIA on the industry's "first custom HBM implementation."