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Micron forecasts revenue above estimates on AI-driven memory chip demand
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Micron Technology forecast fourth-quarter revenue above Wall Street estimates on Wednesday on robust demand for its high-bandwidth memory (HBM) chips used in artificial intelligence data centers.
The memory chip maker reported a nearly 50% jump in third-quarter sales of its HBM chips from the previous three months, and said it will continue to invest in the chips.
The results and the investment plans underscore a rise in demand for AI chips such as those from Nvidia and Advanced Micro Devices, both of which use Micron‘s memory chips.
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