Micron's HBM Chips Soar as AI Demand Booms

Microns stock surged by over ten percent following impressive Q1 results, driven by soaring demand for AI data centers. The companys high-bandwidth memory chips, crucial for AI systems, saw a sixty-nine percent revenue increase, reaching $10.8 billion. Micron exceeded earnings and revenue expectations, with EPS at $4.78 and quarterly revenue at $13.6 billion. CEO Mehrotra predicts the HBM market to grow from $35 billion in 2025 to $100 billion by 2028, leading to increased price targets for Micron shares.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.