Micron’s market cap jumps tenfold in a year as high-bandwidth memory chips become critical for AI data centers.
Micron Technology’s valuation soared to nearly $1 trillion, up from $100 billion a year ago, driven by surging demand for high-bandwidth memory (HBM) chips in AI applications. The shift followed a strategic nudge from Nvidia, which identified memory as a bottleneck for AI performance and aligned its roadmap with Micron’s capabilities.
Traditionally frugal, Micron relied on cost-cutting and commodity memory production to survive industry cycles. However, Nvidia CEO Jensen Huang’s push three years ago forced Micron to pivot toward specialized HBM chips, transforming its role in the AI supply chain.
The company now stands alongside Samsung and SK Hynix as a key supplier for AI-driven data centers, marking a departure from its conservative past. The transition underscores how AI is reshaping semiconductor demand beyond processors.