Micron Strong Revenue on AI Boom; Shares Drop On Spending Plan
Micron Technology forecasts strong third-quarter revenue above Wall Street’s market expectations, and this announcement comes after the company reported a big jump in their second-quarter performance. The reason for this growth is the rising demand for memory chips used in artificial intelligence (AI) systems. Even after a good performance, the
Micron’s $24 billion Singapore Chip Fab Plant Plan
U.S. memory chipmaker Micron Technology has announced plans to spend $24 billion to build a new chip factory in Singapore. The goal is to increase production amid a global shortage of memory chips. The plan, first reported by Reuters, comes as demand for artificial intelligence (AI) technology is growing rapidly.
