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Micron Technology reported a fifteenfold jump in profit as artificial intelligence companies scrambled to secure computer memory, driving shares sharply higher in after-hours trading.
The chipmaker paired the result with a forecast for sustained demand, signaling it expects AI hardware spending to hold rather than pull back.
What the Numbers Say About Memory's New Role A 15-fold profit increase is not incremental improvement — it reflects a structural shift in who needs memory and how much of it.
Computer memory, long a commodity business squeezed by overcapacity and price wars, is now a chokepoint for AI infrastructure.
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