Micron raises forecasts as AI boosts memory chip demand

Micron Technology on Monday raised its forecast for fourth-quarter revenue and adjusted profit, banking on surging demand for its memory chips used in artificial intelligence infrastructure, sending its shares up about 3%.

Semiconductor makers such as Micron have seen a surge in orders for their high-bandwidth memory (HBM) chips due to their intensive data-processing capabilities, as large tech firms ramp up AI data center investments.