BOISE — Micron announced that its revenue has nearly tripled from last year's period as memory chip demand surges with the growth of AI.
The Boise-founded tech company reported Q2 revenue of $23.86 billion, up from $8.05 billion reported in the same period last year.
“Micron set new records across revenue, gross margin, EPS, and free cash flow in fiscal Q2, driven by a strong demand environment, tight industry supply, and our strong execution, and we expect significant records again in fiscal Q3,” Chairman, President and CEO of Micron Technology, Sanjay Mehrotra, said.
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However, despite the blowout quarter, Micron's stock fell last week due to the company's spending to keep up with rising demand.
