Micron Revenue Surges 379% Driven by AI Chip Demand

Micron Technology reported $54.23 billion in revenue for its fiscal fourth quarter, a 379% year-over-year increase that surpassed analyst estimates by $3 billion. The company's growth was fueled by strong demand for memory chips used in AI data centers, with core data center revenue rising to $18 billion. Micron provided a strong outlook for the first quarter of fiscal 2027, guiding for $61.5 billion in revenue. Additionally, the company secured $12.75 billion in customer deposits through long-term supply contracts during fiscal 2026 to ensure future inventory.