Micron's Strong Quarter, Supply Shortage, and AI Chip Rush

0:00Micron technology just posted one of its strongest quarters ever, with revenue hitting $23.86 billion and adjusted. Earnings per share at $12.20, blowing past Wall Street estimates. The company also gave up big guidance for the next quarter, fueled by booming demand for memory chips in artificial intelligence systems. CEO Sanjay Meirotra warned that key customers are only getting 50 to 2 thirds of what they need right now, highlighting a persistent supply. Shortage, despite the solid results. Investors shrugged off the headline, wins, sending the stock lower as they worry about the future, when new factories come online and ease the tight. Markin. Micron plans to pour more than $25 billion into capital spending next year to ramp up production and catch up with demand. Keeping in. At the heart of the AI chip rush. Local news, powered by AI. This is Durham News Today.