:Micron Technology beat analysts' estimates for third-quarter revenue on Wednesday, driven by demand for its memory chips from the fast-growing artificial intelligence sector.Shares of the company rose about 3 per cent in trading after the bell. They have gained about 34 per cent this year.CEO Sanjay M
:Micron Technology beat analysts' estimates for third-quarter revenue on Wednesday, driven by demand for its memory chips from the fast-growing artificial intelligence sector.
As a result, Micron is seeing improved pricing trends and increased confidence that the industry has passed the bottom for growth and revenue, he added. The proliferation of generative AI will likely fuel a jump in demand for data to feed large language models and could boost the need for more storage chips, analysts have said.
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