Micron and Intel Report AI-Driven Revenue Growth

AI demand drove significant revenue growth for both Micron Technology and Intel, though the companies reported divergent financial outcomes. Micron achieved its fifth consecutive quarterly revenue record in fiscal Q3, reporting $41.46 billion in revenue, a 345.7% increase year-over-year. This growth was supported by high-bandwidth memory shipments and 16 Strategic Customer Agreements with a cumulative minimum revenue of approximately $100 billion, pushing GAAP gross margins to 84.6%.

Intel reported Q2 revenue of $16.13 billion, its strongest growth in over 15 years, highlighted by a 59% jump in its Data Center and AI segment. Despite the revenue gain, Intel posted a GAAP net loss of $11.03 billion. This loss resulted from a $12.53 billion non-cash CHIPS Act charge and a $2.1 billion loss within its foundry unit.

Intel continues to focus on its manufacturing roadmap, pushing 18A volume and targeting a 14A high-volume ramp by 2028, although the company has not yet announced external foundry customers.