Markets· August 17, 2026 at 03:20 p.m.
Micron's AI Boom and Utility Sector Connection Unveiled
Key takeaways
- Micron's revenue hit $41.5 billion in Q3 of fiscal 2026, up 346% YoY
- Deloitte predicts U.S. AI data center power demand could grow 30-fold by 2035
- NextEra Energy, Constellation Energy, Entergy, and Edison International are seen as potential beneficiaries of increased AI data center power demand
Micron Technology (NASDAQ: MU) has experienced significant growth, driven by its role in artificial intelligence (AI) infrastructure. In the third quarter of fiscal 2026, Micron reported a 346% year-over-year increase in total revenue to $41.5 billion, with DRAM revenue accounting for 76% of sales. The company's high-bandwidth memory (HBM) and high-performance dynamic random-access memory (DRAM) have been key drivers of this growth due to their use in AI clusters. Micron's HBM3E memory, which is used alongside Nvidia's H200 GPUs and AMD's next-generation accelerators, offers improved power efficiency. The company has also announced plans to invest over $250 billion in the U.S. through 2035, aiming to supply AI data centers and create over 90,000 jobs.
