Micron’s exploding – As the AI boom drives a memory-chip crunch that could last into 2027, Micron is posting explosive results and forecasting a strong fourth quarter. The Idaho-based supplier also struck a deal with Anthropic, underscoring how winning the supply race may come wit
On a market day when everyone seems to be arguing about who can get enough memory chips, Micron did something simple: it proved it could ship—and then priced that confidence into its stock.
The Idaho-based company’s shares. which were trading around $83 in early 2024 with a market cap of about $91 billion. closed today at $1. 048.51. That jump came after Micron reported third-quarter earnings after markets closed on Wednesday. and investors reacted quickly. sending shares soaring more than 13%.
Micron tied the move to results that read like the opposite of a shortage. Revenue quadrupled to $41.45 billion compared with the same period a year ago. Profit rose from $1.88 billion to $28.2 billion year-over-year.
The week’s larger backdrop is the memory-chip crunch itself—one fueled by demand from compute-hungry AI models and expected by some to persist through 2027. It’s not just a manufacturing constraint turned into a corporate headache. As supply gets squeezed, prices rise, and those costs can bleed into everyday buying.
Apple CEO Tim Cook warned just a week ago that price increases for its products are unavoidable, a sign that the chip fight is starting to show up far beyond server racks.
Micron’s forecast landed right in the middle of that tension. The company projected fourth-quarter revenue of between $49 billion and $51 billion, giving investors a reason to believe demand isn’t backing off—even if supply remains tight.
The earnings surge also arrived alongside a deal that points to who is moving first inside the rush for AI capacity. Micron inked a deal to supply AI lab Anthropic with memory and storage chips. Micron also disclosed that it participated in Anthropic’s Series H funding round. though it didn’t disclose how much it invested.
These facts don’t sit in isolation. Strong earnings. a confident revenue outlook. and new supply commitments to a high-profile AI lab all land during a period when the industry is warning that the shortage could stretch for years—meaning the companies that secure supply now may be positioned to shape costs later.
Micron memory chips RAMageddon AI hardware Anthropic Tim Cook Apple earnings market cap supply shortage