1.3 billion dollar profit

Micron doubles turnover thanks to memory for AI boom

ChatGPT, Gemini and other AI technologies are driving business: Thanks to a growing demand for high-performance memory for artificial intelligence, Micron has almost doubled its quarterly turnover.

On this basis, the semiconductor manufacturer provided a surprisingly optimistic outlook for the current quarter on Wednesday. The company forecast revenues of 8.7 billion dollars, plus or minus 200 million dollars. Analysts had only expected 8.28 billion dollars.

Profit of more than one billion US dollars
In the past quarter, turnover rose by 93 percent to 7.75 billion dollars and also exceeded market expectations. This is the strongest growth for more than ten years. Net profit was a surprisingly high 1.342 billion dollars. As a result, Micron shares rose by a good 13 percent in after-hours trading on Wall Street.

Micron owes its strong growth to its HBM memory chips (High Bandwidth Memory). These can store and retrieve a large amount of data in a short space of time. They are therefore in high demand for computationally intensive AI applications in which vast amounts of data have to be processed simultaneously. The most powerful generation currently available is called "12-Layer HBM3E". According to previous information, HBM memory production for 2024 and 2025 is already sold out.