Micron posts record $41.5B revenue as AI memory demand booms

Micron reported record fiscal third-quarter revenue of $41.5 billion and net income of $28.2 billion, with gross margins near 85%, blowing past Wall Street estimates. It was the memory maker's fifth straight record quarter, driven by AI data-center demand and tight supply. Micron also locked in 16 multi-year 'take-or-pay' supply deals. Shares jumped about 14% after hours, adding over $200 billion in value.