33 Most Important AI Companies You Should Pay Attention To

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12. Micron Technology (NASDAQ:MU)

Number of Hedge Fund Holders: 115

YTD Return as of August 1: 62%     

Micron Technology (NASDAQ:MU) makes and sells memory and storage products. These memory and storage products, like DRAM and NAND, form the base of AI data centers through which AI software firms market products like real-time natural language processing, personal assistants, and AI artwork, among others. One of the premier memory products of the firm is high-bandwidth memory (HBM) solutions. In the latest earnings call, the company revealed that the HBM production was sold out for 2024 and 2025. Many hyperscalers rely on Micron memory products, including tech giant Apple that is emerging as a major AI software firm.

Sanjay Mehrotra, the CEO of Micron Technology (NASDAQ:MU), said during the third quarter earnings call that despite near-steady demands for memory in PCs and smartphones over the past few months, the firm expected the price of the products it sold to jump in the next few months, primarily because robust AI-driven demand for data center products was causing tightness on leading-edge nodes.

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