Micron Shares Rise Following Strong Earnings and Increased Capital Expenditure Guidance from CoreWeave
Micron Technology (MU) shares saw a significant boost following a strong Q3 earnings report from AI cloud provider CoreWeave. CoreWeave exceeded analyst expectations for both revenue ($3.66 billion) and earnings, while simultaneously raising its full-year 2026 revenue guidance to between $13.0 billion and $13.3 billion. Crucially for Micron, CoreWeave announced plans to increase capital investment to between $37 billion and $39 billion. As a provider of memory chips used in data center infrastructure, Micron stands to benefit directly from this increased spending. With CoreWeave projecting an annual revenue run rate of $20 billion to $21 billion by the end of 2026, the outlook for high-demand memory chip consumption remains bullish.
Topics: AI data centers earnings report memory chips revenue guidance
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