Micron Technology, Inc. - MU STOCK NEWS

Micron Technology (Nasdaq: MU) has announced volume production of its ninth-generation (G9) TLC NAND flash technology, marking an industry first. The G9 NAND boasts the highest transfer speed of 3.6 GB/s, offering superior bandwidth for data-intensive applications like AI. It's 73% denser than competing technologies, enabling more compact storage solutions.

The Micron 2650 NVMe SSD, integrating G9 NAND, delivers exceptional performance, surpassing competitors in PCMark® 10 testing with up to 38% higher scores. It offers up to 7,000 MB/s sequential read speeds and outperforms competitors by up to 156% in random read operations. The G9 NAND is now available in the Micron 2650 SSD for client OEMs and is in qualification for component form and consumer-based Crucial SSDs.

Micron Technology has introduced the Micron 9550 NVMe SSD, touted as the world's fastest data center SSD. This innovative product showcases Micron's expertise by integrating its own controller, NAND, DRAM, and firmware. The 9550 SSD delivers best-in-class performance with 14.0 GB/s sequential reads and 10.0 GB/s sequential writes, providing up to 67% better performance over similar competitive SSDs.

The SSD excels in AI workload performance and power efficiency, outperforming competitors in critical AI tasks with up to 33% faster workload completion times. It also offers industry-leading power efficiency for various AI workloads, including up to 43% lower SSD average power in GNN training. Available in capacities from 3.2TB to 30.72TB and in multiple form factors, the 9550 SSD is designed to meet the demands of top OEMs and hyperscalers.

Micron Technology (Nasdaq: MU) has launched the Crucial P310 2230 Gen4 NVMe SSD, targeting handheld gaming, ultrathin laptops, and mini PCs. This new SSD offers:

• Industry-leading read speeds of 7,100 MB/s
• Write speeds of 6,000 MB/s
• Capacities up to 2TB
• Random reads up to 1 million IOPS
• Power-efficient storage for extended battery life

The P310 2230 is compatible with devices like Valve Steam Deck, ASUS ROG Ally, and select Microsoft Surface and Dell models. It's available now through various channels with a five-year warranty. A P310 2280 version for PC gaming is expected in fall 2024.

Micron Technology (Nasdaq: MU) has announced the sampling of its multiplexed rank dual inline memory modules (MRDIMMs), designed to enhance performance for memory-intensive data center workloads. These MRDIMMs offer up to 256GB capacity with 40% lower latency compared to current TSV RDIMMs. Key advantages include:

- Up to 39% increase in effective memory bandwidth
- Greater than 15% better bus efficiency
- Up to 40% latency improvements
- Support for 32GB to 256GB capacities
- Improved thermal design reducing DRAM temperatures by up to 20°C

Compatible with Intel Xeon 6 processors, MRDIMMs are set to ship in volume in the second half of 2024, promising to accelerate AI, HPC, and virtualized multi-tenant workloads while optimizing energy efficiency and total system task energy.

Micron Technology (Nasdaq: MU) has released its 2024 sustainability report, outlining significant progress in environmental sustainability, equality, inclusion, and innovation. The company achieved an 11% reduction in scope 1 greenhouse gas emissions compared to its 2020 baseline and is on track for 100% renewable electricity in the U.S. by 2025. Micron also reported improvements in water reuse and aims to divert 95% of its waste from landfills by 2030. The company has maintained pay equity since 2018 and expanded its analysis to include race, disabilities, and veterans. In addition, Micron spent $510 million on diverse suppliers in FY23 and invested over $11 million in STEM initiatives. Innovation highlights include the HBM3E memory solution, which reduces power consumption by ~30% while offering superior performance.

Micron Technology (Nasdaq: MU) has released its results for the third quarter of fiscal 2024, ending May 30, 2024. The company reported a significant revenue increase of $6.81 billion, up from $5.82 billion in the previous quarter and $3.75 billion in the same period last year.

GAAP net income stood at $332 million, or $0.30 per diluted share, while non-GAAP net income was $702 million, or $0.62 per diluted share. Operating cash flow reached $2.48 billion, a substantial rise from $1.22 billion in the prior quarter and $24 million the previous year.

Driven by robust AI demand, Micron experienced a 50% sequential growth in data center revenue. The company's data center SSD revenue achieved a record high. Investments in capital expenditures were $2.06 billion, resulting in adjusted free cash flows of $425 million. Micron ended the quarter with $9.22 billion in cash and marketable investments.

Looking ahead, Micron provided guidance for the fourth quarter of 2024, forecasting revenue at $7.60 billion ± $200 million and a gross margin of 33.5% ± 1.0% on a GAAP basis.

Micron Technology (Nasdaq: MU) has announced a $4M deposit with Clarity Credit Union, reaching its $20M commitment with the Economic Opportunity Coalition (EOC). The deposit aims to boost financial services and education in Idaho's rural areas. Over the past year, Micron has also deposited $10M with Carver Federal Savings Bank, $3M with Syracuse Cooperative Federal, and $3M with Locus. The initiative is part of Micron's broader efforts to support underserved communities through diverse financial institutions. The company recently received $6.1B from the U.S. CHIPS and Science Act and plans significant investments in U.S. memory manufacturing, which includes creating thousands of jobs in Idaho.

Air Liquide has announced a significant investment of over $250 million to build a new industrial gas production facility in Idaho, USA. This facility will support the new fab of Micron Technology (MU) and other local customers, producing ultra-pure nitrogen and other gases essential for manufacturing memory chips. The plant is expected to be operational by the end of 2025, creating hundreds of jobs in the region. The facility will integrate advanced digital technologies, aiming to optimize reliability and energy efficiency. This project aligns with Air Liquide's commitment to technological innovation and environmental sustainability, targeting 100% renewable energy use within five years. The initiative is part of Air Liquide's 2025 strategic plan, ADVANCE, which emphasizes financial and extra-financial performance.

Micron Technology (Nasdaq: MU) has announced the sampling of its next-generation GDDR7 graphics memory at Computex, Taipei. Leveraging 1β DRAM technology, GDDR7 offers 32 Gb/s high-performance with over 1.5 TB/s bandwidth, a 60% increase compared to GDDR6. It also boasts a 50% power-efficiency improvement and up to 70% reduced standby power. GDDR7 enhances gaming and AI applications by increasing throughput by 33% and reducing response times by 20%, with anticipated 30% FPS improvement in graphics cards. It completes Micron's product portfolio for edge AI and high-performance computing. Cadence and AMD have collaborated with Micron on this launch, with product availability set for the second half of 2024.