Bloomberg Tech Micron HBM Sales Surge, Palantir’s Stock Keeps Climbing
Jun 26, 2025
In this discussion, Jay Jacobs, the U.S. Head of Equity ETFs at BlackRock, shares his insights on Micron's explosive growth in high-bandwidth memory sales, driven by AI and consumer demand. They delve into investment strategies beyond tech giants, exploring how AI could reshape productivity. Additionally, the conversation touches on defense tech opportunities amidst geopolitical tensions and highlights the surge of Chinese AI startups entering the market, showcasing a rapidly evolving tech landscape.
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Micron’s HBM Growth Insight
- Micron's high bandwidth memory (HBM) sales are surging, fueling optimism despite HBM being a small revenue percentage.
- Complex stacked HBM production drives premium pricing, and improvements in yield are critical for margin and market share gains.
AI Infrastructure Dominates Now
- AI infrastructure, especially chipmakers like NVIDIA and Broadcom, currently dominate AI investment due to concentrated spending.
- Broad diversification beyond mega-cap tech is necessary as AI adoption expands beyond infrastructure build-out.
Xiaomi’s EV Demand Surge
- Xiaomi received over 200,000 pre-orders for its first electric SUV, priced competitively against Tesla Model Y.
- Founder Lei Jun modeled his approach after Steve Jobs, leveraging Xiaomi’s innovation strength to build EV demand.