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Micron lifts 2024 capex forecast on rising investment in AI-related chips

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Micron Technology on Tuesday slightly raised its capital expenditure forecast for 2024, as the U.S. chipmaker invests heavily to make high bandwidth memory (HBM) semiconductors to meet surging demand from the AI industry.

The company logo is seen on the Micron Technology Inc. offices in Shanghai, China May 25, 2023. REUTERS/Aly Song/File PhotoMicron Technology on Tuesday slightly raised its capital expenditure forecast for 2024, as the U.S. chipmaker invests heavily to make high bandwidth memory semiconductors to meet surging demand from the AI industry.Boise, Idaho-based Micron is one of the three large providers of HBM chips, an essential part of the hardware used in artificial intelligence servers.

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