Micron Technology reported record fourth-quarter fiscal 2026 revenue on Wednesday that exceeded Wall Street consensus, driven by soaring demand for the high-bandwidth memory chips used in artificial-intelligence data centres. The Boise-based company's shares rose sharply in after-hours trading.

Quarterly revenue topped $12 billion, up strongly from a year earlier, with data-centre products accounting for the largest share of sales. Chief Executive Sanjay Mehrotra attributed the results to persistent demand for HBM3E memory from Nvidia and other AI accelerator makers, and to tight industry supply that has pushed DRAM prices higher.

The report followed months of momentum in AI-linked hardware, echoing strong results earlier in 2026 from Dell Technologies and Hewlett Packard Enterprise. Analysts at Morgan Stanley and Citigroup had raised price targets ahead of the release, citing sold-out HBM capacity through calendar 2027 and improving pricing across the memory market.

Micron guided first-quarter fiscal 2027 revenue above consensus and said gross margins would continue expanding as the product mix shifted toward higher-value data-centre memory. The company is accelerating capital spending to add capacity, including at planned facilities in New York and Idaho supported by US Chips Act funding.

Investors have treated Micron as a barometer for the broader AI infrastructure trade. The results reinforced expectations that memory suppliers remain among the biggest beneficiaries of data-centre buildouts through 2027.