Micron predicts the memory crisis will last beyond 2026, says it can't meet full demand
NeutralArtificial Intelligence
- Micron Technology has announced that the ongoing memory crisis is expected to extend beyond 2026, indicating an inability to meet the full demand for memory products. The company reported a significant revenue increase of 57% year-over-year, reaching $13.64 billion, with net income rising from $2 billion to $5.2 billion for the first fiscal quarter.
- This development is crucial for Micron as it reflects both the challenges posed by the memory shortage and the company's strong financial performance, which exceeded market expectations with earnings per share of $4.78 against an anticipated $3.94.
- The situation highlights the growing demand for memory driven by artificial intelligence applications, which has led to strategic shifts within the industry, including the retirement of Micron's Crucial brand. This trend underscores the broader implications of AI's increasing reliance on memory resources, affecting both consumer markets and corporate strategies.
— via World Pulse Now AI Editorial System
