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Micron raises revenue, profit outlook on AI chip demand
Micron just bumped up its fourth-quarter revenue and profit outlook, riding the wave of booming demand for memory chips powering AI tech.
The company now expects $11.2 billion in revenue (up from $10.7 billion) and higher earnings per share at $2.85 instead of $2.50.
Micron's shares jump ahead of market opening
After the announcement, Micron's shares jumped 5% before markets even opened—investors are clearly excited about the surge in orders for high-bandwidth memory (HBM) chips, which are essential for all those new AI data centers popping up everywhere.
With tech giants going all-in on AI, Micron looks set to keep cashing in on this trend well into the future.