Comment on After 5 quarters of losses, one chipmaker is finally reaping the benefits of Nvidia's AI chip boom

After 5 quarters of losses, one chipmaker is finally reaping the benefits of Nvidia's AI chip boom

Micron surged over 15% after strong revenue and profit forecasts driven by AI spending.Igor Golovniov/SOPA Images/LightRocket via Getty ImagesMicron surged over 15% after strong revenue and profit forecasts driven by AI spending.The chipmaker's Q4 revenue hit $7.75 billion, nearly double last year's fourth-quarter performance.Other chip stocks also rallied on Thursday after Micron's revenue guidance.Micron surged over 15% on Thursday after reporting strong revenue and profit forecasts, spurred by continued artificial intelligence spending.The US chipmaker's revenue in the quarter that ended August 29 was $7.75 billion, nearly double of what it saw during the same time last year.

 

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