Micron tumbles as AI revenue surge falls short of lofty expectations

Micron shares fell 5% in early trading on Thursday after the memory chipmaker’s quarterly revenue forecast failed to impress investors looking for outsized results powered by the AI boom.

The company, one of the few providers of high-bandwidth memory (HBM) chips that power advanced AI systems, has said it had “sold out” those chips for this year and the next, driving up expectations.