U.S. memory chip maker Micron Technology posted record quarterly results on Wednesday, fueled by demand from artificial intelligence data centers. Shares climbed after a prior drop in technology stocks that hit South Korean firms SK hynix and Samsung hardest. Based in Boise, Idaho, the company saw revenue surge 346 percent from a year earlier to 41.46 billion dollars, while net profit rose 15 percent to 28.24 billion dollars. Micron forecasts roughly 50 billion dollars in revenue for the current quarter. Cloud and server sales now represent over 60 percent of total revenue, underscoring the market shift toward data centers. Rapid data-center expansion has created supply constraints for memory chips, pushing prices higher and affecting devices such as phones and computers. Micron expects no easing of shortages before 2028. The results served as an early indicator of sector demand following a more than 10 percent decline on the Seoul exchange tied to concerns over heavy AI spending. Micron, SK hynix and Samsung together control most of the global memory market. Micron shares gained about 14 percent in after-hours trading, approaching but not exceeding their June 22 peak. The firm also stated that its entire inventory of high-bandwidth memory chips, essential for AI processors, is fully committed through the end of 2026.
