Compute & semiconductors
Micron
Business, financial evidence and documented connections to the AI buildout.
Business and AI exposure
Micron manufactures DRAM and NAND memory. AI systems create demand for high-bandwidth memory and other data-center products, while the same business units also serve conventional computing. The company is expanding manufacturing and packaging capacity to support contracted customer requirements.
investors.micron.com ↗ · www.sec.gov · 2026-09-30 ↗ · s25.q4cdn.com ↗
Earnings and disclosures
Latest verified results: Q4 and fiscal year 2026 · Released 2026-09-30
Next results: No next results date listed in the official event listings checked 2026-10-18.
Checked 2026-10-18 · Financial context and sources ↓
Financial context
For fiscal Q4 2026, Micron reported $54.229 billion of revenue, including $16.283 billion in Cloud Memory and $18.002 billion in Core Data Center. Those two categories represented 63.2% of sales, but include non-AI uses. FY2026 adjusted free cash flow was $62.308 billion.
Products and delivery
HBM4 was already in high-volume production for a lead customer by June 2026. HBM4E development and qualification precede its planned 2027 ramp. Singapore packaging, Idaho ID1 and Taiwan Tongluo expansions represent additional future output rather than current production from those projects.
Plans and commitments
Initial Singapore HBM packaging output is planned for early 2027, with Idaho and Tongluo output expected around mid-2027. Micron reported 26 take-or-pay supply agreements across markets and $32 billion of customer financial commitments. Most calendar 2027 HBM bit supply was contracted.
Economics and dependencies
Capacity must pass manufacturing and customer qualification before deliveries generate sales. FY2026 net capital expenditure was $27.367 billion. Customer deposits are financing flows, not revenue or operating cash flow, and cross-market supply agreements cannot be treated as exclusively AI-related commitments.
What to watch
Factory output, packaging readiness and contracted HBM deliveries will show how expansion translates into sales. Cash and investments, including restricted cash, totaled $73.48 billion at fiscal year-end 2026. Product-level disclosure remains necessary to distinguish HBM economics from broader data-center memory revenue.
Documented project connections
Each connection below has a specific, cited role. A supplier, lender, customer or proposed acquirer has different economics from the project owner.
No named tracked-project role has been established by the evidence used for this profile. This does not mean the company has no AI exposure.
Evidence boundaries
Company totals, segment sales, bookings, backlog, spending, capacity and usage describe different things. They do not establish project-level revenue, earnings or an exact AI-only revenue share unless the cited disclosure explicitly says so.
This is a dated research snapshot. Forecasts are attributed expectations, and undisclosed amounts remain unknown. Source review does not certify every project or future outcome.