Micron Technology beat Wall Street revenue expectations for its second quarter, reporting $23.86 billion-nearly $4 billion above the $20.07 billion consensus.
The surge stems from accelerated demand for high-bandwidth memory (HBM) chips used in AI hardware. Micron is one of only three global suppliers of HBM, alongside Samsung and SK Hynix.
Customers are locking in long-term data center commitments as tech firms push toward artificial general intelligence. That investment wave is expanding AI infrastructure-and driving urgent chip procurement.
Micron forecast third-quarter revenue between $32.75 billion and $34.25 billion-well above the $24.29 billion analyst average. Its board also approved a 30% increase to its quarterly dividend.