BOISE, Idaho — Micron Technology Inc. reported a massive jump in quarterly revenue driven by surging demand for memory chips used in artificial intelligence applications, posting record results for its fiscal third quarter ended May 28.
The semiconductor company said revenue reached $41.46 billion in the quarter, more than quadrupling from $9.30 billion in the same period a year earlier and rising 74 percent from the prior quarter. Adjusted earnings per share were $25.11.
Micron attributed the performance to tight industry supply conditions and strong pricing for both DRAM and NAND products amid AI-driven demand. DRAM revenue hit a record $31.3 billion, while NAND revenue reached $9.9 billion.
The company forecast revenue of approximately $50 billion for the fiscal fourth quarter, well above analyst expectations. It also guided for adjusted earnings per share of about $31.
“Micron’s record fiscal Q3 financial results and even stronger outlook for Q4 reflect the strategic value of memory in the AI era,” Sanjay Mehrotra, chairman, president and chief executive officer, said in a statement.
Micron has secured customer commitments totaling about $22 billion to lock in memory chip supplies, the company reported. It continues to invest heavily in expanding manufacturing capacity to meet demand.
The results come as memory prices have risen sharply due to AI infrastructure needs. Industry data center DRAM and NAND bit shipments in calendar 2026 are expected to more than double from two years ago, according to Micron.
Shares of Micron rose sharply in after-hours trading following the announcement on Wednesday. The company, based in Boise, Idaho, is one of the leading producers of DRAM and NAND flash memory used in data centers, smartphones and other devices.
Mehrotra noted that AI is driving unprecedented growth in data centers, with server units expected to grow in the high teens percent range this year. The company expects tight supply conditions for DRAM and NAND to persist beyond 2027.
As of Thursday, Micron had not provided further details on the geographic breakdown of sales or specific customer contributions beyond the overall AI momentum. The company declared a dividend increase earlier in the year as part of returning capital to shareholders.
