Micron’s multiyear agreement with Anthropic boosts demand visibility for AI memory chips, lifting its market cap above $1.2 trillion.
Micron Technology (MU) announced a strategic partnership with AI startup Anthropic, combining a multiyear supply contract, technical collaboration, and an existing equity stake. The deal aims to secure steady demand for Micron’s memory chips in AI training, a market prone to volatility. Shares surged 5% to an all-time high, pushing its valuation past $1.2 trillion.
Anthropic recently raised $65 billion in a funding round valuing the company at $965 billion. Micron, Samsung, and SK Hynix were the only memory chipmakers involved as strategic partners. Amazon also contributed $5 billion to the round, underscoring hyperscaler interest in AI infrastructure.
Investors appear to view the deal as a long-term growth catalyst for Micron, reducing exposure to cyclical swings in memory chip demand. The announcement precedes Micron’s upcoming earnings report.