Micron’s Jaw-Dropping Earnings Show It Is Leaving Nvidia Behind in the AI Boom - 24/7 Wall St.

In the AI boom, NVIDIA has emerged as the face of the semiconductor revolution, with its market cap reaching $4.8 trillion. However, recent earnings from Micron Technology show it is rapidly catching ... Read original →

Micron’s Q3 results expose a fundamental shift in AI infrastructure economics: while NVIDIA dominates the AI chip narrative, high-bandwidth memory like HBM is emerging as the true bottleneck. Technically, Micron’s yield and ramp in HBM3E/HBM4 will dictate next-gen GPU cluster deployment timelines. On compliance, its U.S.-Japan-India fab expansion mitigates some geopolitical exposure, yet reliance on packaging in Taiwan, China remains a supply chain vulnerability. With a market cap just one-third of NVIDIA’s despite superior YoY growth, rivals like Samsung and SK Hynix may accelerate HBM patent cross-licensing to constrain Micron’s pricing power. Over the next 12–24 months, if AI clusters hit a 'memory wall' before a 'compute wall,' Micron could transition from component supplier to architecture shaper—its current valuation vastly underestimates its leverage in the AI stack.