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Micron Technology, Inc (NASDAQ:MU) Chief Business Officer Sumit Sadana expressed his enthusiasm about the company’s strategic investment in India during a recent panel discussion.
What Happened: During the CNBC-TV18 Young Turks’ Voices from the Valley series, CNBC reported that Micron’s capacity is fully booked through the end of 2025.
Sadana emphasized AI’s transformative impact on various sectors, including healthcare and education. He noted that AI can analyze vast datasets to identify trends and develop targeted treatments faster than humans. It can offer personalized learning experiences to address the global teacher shortage.
Sadana acknowledged the need for substantial semiconductor capacity and investment to train large language models (LLMs). He stressed the importance of making these models smarter and more efficient to fully realize AI’s potential in solving complex problems.
Why It Matters: Various governments are introducing new programs to incentivize domestic semiconductor manufacturing and development.
While these initiatives are beneficial, Sadana cautioned about the need for careful management to balance global supply and demand.
He discussed solutions like high bandwidth memory (HBM) and expanded DRAM capacity to alleviate these issues.
In June, Micron reported third-quarter revenue of $6.81 billion, beating the analyst consensus estimate of $6.63 billion. Micron reported third-quarter adjusted EPS of $0.62, beating analyst consensus estimates of $0.49.
Price Action: Micron Technology stock gained 106% in the last 12 months. Investors can gain exposure to the stock via iShares Core S&P 500 ETF (NYSE:IVV) and Vanguard S&P 500 ETF (NYSE:VOO).
MU shares traded lower by 1.26% at $129.75 premarket at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
