Micron surges as AI memory-chip crunch lifts earnings

TechCrunch reported that the AI boom is feeding a memory-chip shortage and boosting Micron, the largest U.S. computer-memory chip maker. The company reported third-quarter earnings after markets closed Wednesday, sending shares up more than 13%. Revenue quadrupled year over year to $41.45 billion, while profit rose from $1.88 billion to $28.2 billion. Micron also forecast fourth-quarter revenue of $49 billion to $51 billion. The report notes that demand for AI servers and memory components is pushing prices higher across the supply chain and that Micron recently agreed to supply Anthropic with memory and storage chips while also participating in Anthropic's Series H round.

Key details: Published June 24, 2026 at 14:30 PDT, Micron shares rose more than 13% after earnings, Quarterly revenue reached $41.45 billion, Profit rose to $28.2 billion from $1.88 billion a year earlier.

Why it matters: The AI buildout is now visible in memory-supply economics, not just GPU demand; Micron is a direct signal for the broader infrastructure bottleneck.