Micron Technology posted strong financial results, with revenue rising for six consecutive quarters, driven by explosive demand for artificial intelligence chips. The huge demand for its high-performance memory chip HBM3E has even exceeded supply, and it is expected to bring hundreds of millions of dollars in revenue to the company in 2024. This growth momentum demonstrates the booming AI industry and continued high demand for high-performance memory chips.
Micron Technology announced its sixth consecutive quarter of revenue growth, mainly due to surging demand for artificial intelligence chips. The company's CEO said that the HBM3E memory chip module has been sold out and is expected to generate hundreds of millions of dollars in revenue for the company in 2024. The company plans to increase capital expenditures in fiscal 2024 to meet production needs for new memory modules.
Micron Technology's performance growth heralds continued rapid development in the field of artificial intelligence and also reflects its leading position in the high-performance memory chip market. In the future, with the continuous advancement of artificial intelligence technology and the expansion of application scenarios, Micron Technology is expected to continue to maintain a strong growth trend. The success of the HBM3E chip has also laid a solid foundation for the company's future development.