Bloomberg Technology Micron's Earnings and Reddit's IPO
Mar 21, 2024
Exclusive interview with Micron CEO on AI growth and record-high shares, Reddit's awaited IPO details with COO insights, Apple's antitrust scrutiny in US and EU, AI devices surge, workplace communication efficiency boost with Grammarly's AI assistance, and tech buzz on Apple and Google investigations, Reddit's new business model, and stock opening anticipation.
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Micron's AI-Driven Growth
- Micron's recovery is driven by AI-related demand and tight supply across markets.
- HBM3E, crucial for AI platforms, is sold out for 2024 and mostly allocated for 2025.
HBM3E Production and Market Share
- HBM3E shipments have begun, boosting Micron's gross margins and revenue.
- Micron aims for HBM3E market share equivalent to its DRAM share, about 23%.
CHIPS Act and US Memory Production
- Micron's CHIPS Act application is under review, aiming to bridge the cost gap with Asian operations.
- CHIPS Act funding would help bring leading-edge memory manufacturing to the US, boosting national security.