Why Wall Street thinks US memory maker Micron is the next Nvidia - TechCrunch

Micron Technology, a U.S.-based memory chipmaker, has captured Wall Street's attention, with its market valuation briefly surpassing that of Meta and Tesla. This surge is driven by the AI-driven boom ... Read original →

Micron’s valuation surge reflects structural demand from AI data centers, not cyclical hype. Its deep integration with NVIDIA is accelerating EUV adoption in sub-3nm DRAM and HBM, pressuring Samsung and SK Hynix to fast-track SCA cleanroom expansions. While U.S. CHIPS Act subsidies lower domestic capex, tighter export controls raise compliance costs—especially for server-grade DRAM sales to China. Samsung is already countering with HBM4 R&D and tighter cloud alliances (e.g., AWS, Oracle). Over the next 12–24 months, as AI models shift toward FP8 and sparse compute, memory bandwidth will become the critical bottleneck. If Micron secures volume production of HBM4 and locks in long-term cloud contracts, it could cement itself as the indispensable memory backbone of the AI stack—not just a temporary beneficiary of the cycle.