Micron Technology forecast third-quarter revenue at $33.5 billion-$9.2 billion above Wall Street estimates-driven by surging demand for high-bandwidth memory chips in AI data centers.
Customers are locking in long-term commitments as tech firms accelerate toward artificial general intelligence. Micron is one of only three global suppliers of HBM chips, alongside Samsung and SK Hynix.
The company raised its fiscal 2026 capital expenditure forecast to $25 billion, up from $20 billion, and expects further increases in fiscal 2027-including over $10 billion in new construction spending worldwide.
Micron reported second-quarter revenue of $23.86 billion, beating expectations by nearly $4 billion. Its board approved a 30% increase to the quarterly dividend.