Micron says shifting more resources to AI-focused opportunities

Says data center revenue more than doubled year over year and reached a record level. Says DRAM revenue reached a new record. Says shifting more resources to AI-focused opportunities across the portfolio. Says 1-gamma DRAM technology node yield is ramping ahead of the record pace achieved on 1-beta node. Says expects first DRAM wafer output at first Idaho fab to begin in the second half of calendar 2027. Says second Idaho fab will begin production before the first New York fab. Says expects to begin ground preparation in New York later this year following the completion of state and federal environmental reviews. Says in data center, expects the CY25 server market to grow mid-single digits percentage in units. Says expects PC market units to grow in the low single digit percentage range in CY25. Says expects smartphone units to grow low single digits in CY25. Says there may have been some tariff-related pull-ins by certain customers. Says expects CY25 industry DRAM bit demand growth to be in the high-teens percentage range and industry NAND bit demand growth to be in the low double-digit percentage range. Says expects bit supply growth to be below industry bit demand growth for non-HBM DRAM and NAND. Comments taken from Q3 presentation slides.