Micron Technology has reported a significant revenue increase of 46% in the fourth quarter. The company’s cloud memory business saw growth driven by increasing demand for its DRAM and NAND memory products, which are used in artificial-intelligence development. CEO Sanjay Mehrotra attributed this growth to higher-than-expected demand, boosting Micron’s outlook for the current quarter ahead of expectations.
Source: https://www.wsj.com/business/earnings/micron-technology-revenue-jumps-46-guidance-tops-streets-estimates-be89aa1f