Micron Technology is a US semiconductor group founded in 1978 and headquartered in Boise, Idaho. According to the company, it began as a four-person chip-design firm in the basement of a Boise dental office, and per micron.com it today operates 15 manufacturing sites and offices in more than 30 cities worldwide. Micron makes memory and storage products across two main segments: Memory Products (DRAM, HBM, LPDDR, GDDR) and Storage Products (SSDs, NAND and NOR flash, memory cards).
AI relevance
HBM is especially decisive for AI accelerators. According to Micron's product page, the current HBM3E generation delivers over 1.2 TB/s of bandwidth with up to 30% lower power consumption and ships in Nvidia's H200 accelerators, among others. The successor generation, HBM4, is already in volume production (36GB, 12-high stack) and reaches more than 2.8 TB/s of bandwidth at pin speeds above 11 Gb/s over a 2048-bit interface — double the bus width of HBM3E. Micron names Nvidia's Vera Rubin platform as a target system for HBM4. According to Wikipedia, Micron is the only major American memory maker and ranks among the industry's "Big Three" alongside Samsung and SK Hynix.
Business model
The memory business is cyclical and capital-intensive; prices and margins fluctuate with supply and demand. Growing demand for HBM for AI systems has recently given the segment added importance and visibly improved results.
Key figures
For fiscal year 2025 (ended late August 2025) Wikipedia cites Micron revenue of roughly $37.4 billion — up about 49% from the prior year's $25.1 billion — with operating income of $9.77 billion and net income of $8.54 billion, figures also confirmed by the financial platform stockanalysis.com. Micron's market capitalization stood at roughly $1.06 trillion as of July 13, 2026, according to stockanalysis.com; the company first crossed the $1 trillion mark in May 2026. The chief executive is Sanjay Mehrotra. The shares trade on Nasdaq under the ticker MU.
A cyclical memory business
The memory market is known for pronounced cycles: phases of overcapacity and falling prices alternate with scarcity and rising prices. As one of few large suppliers of DRAM and flash memory, Micron is deeply embedded in this dynamic and must at the same time invest continuously in expensive manufacturing technology to keep up technologically. In May 2023, Chinese authorities barred key infrastructure operators from buying Micron products citing security concerns — a move Wikipedia notes was widely seen as retaliation for US semiconductor export controls, underscoring how geopolitically exposed the industry is.
HBM as an AI driver
An important growth driver is High Bandwidth Memory: this stacked high-speed memory is placed directly next to AI accelerators and delivers the bandwidth needed for large models. Demand for HBM has given the memory business a closer link to the AI investment wave. As the only major US memory maker alongside Samsung and SK Hynix, Micron also plays a role in discussions about supply-chain security. The business remains capital-intensive and prone to fluctuation but is closely tied to the build-out of AI compute capacity.
This profile is a neutral description and is not investment advice.