Goldman Sachs’ 35 AI Superstars

9. Micron Technology (NASDAQ:MU)

Number of Hedge Fund Holders: 107   

Micron Technology (NASDAQ:MU) makes and sells memory and storage products. There are several compelling reasons that make this company a prime investment opportunity. To start with, the company achieved substantial growth, as illustrated in the report for the fiscal year 2024. Reported revenue was $25.11 billion versus $15.54 billion for the prior year, and GAAP net income was $778 million, or $0.70 per diluted share. Moreover, as generative AI needs to access and absorb enormous amounts of data all at once and draw from vast stores of memory to determine proper responses, this positions Micron Technology at the forefront with its groundbreaking products. Micron technologies like HBM3E, high-density DDR5 DRAM, and multi-terabyte SSD storage, all of which enable the speed and capacity required for generative AI training and inference in the cloud, hold great investment potential.