Micron Technology Inc
MUQ1 2024Estimated0.5% AI
AI Revenue %
0.5%
AI Fair Value
$1.1B
AI Revenue (Q)
$29.1M
Total Revenue (Q)
$5.8B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Micron FQ2 FY2024 (ended Feb 29, 2024). Revenue: $5,824M. CNBU: $2,185M. Enterprise and cloud server = 15% of 6-month revenue. The filing lists HBM as a product form alongside 'components, modules, SSDs, managed NAND, MCPs, HBM, and wafers.' HBM3E began initial qualification shipments. The filing discusses 'increasing demand growth, driven in part by deployment of artificial intelligence' improving industry conditions, but does not quantify HBM or AI-specific revenue. Patent cross-license agreement gain of $200M included in operating income. Conservative estimate of very early HBM3E shipments: ~$30M. Math: $30M / $5,824M = 0.5%. Ring 1 AI revenue = ~$30M (estimated).
Analyzed by claude-opus-4-6
Quoted Figures
Revenue $5,824M for quarter ended February 29, 2024
10-Q filed 2024-02-29, Consolidated Statements of Operations
CNBU revenue $2,185M
10-Q filed 2024-02-29, Segment Data
Enterprise and cloud server 15% of six-month revenue
10-Q filed 2024-02-29, Certain Concentrations
HBM is a stacked DRAM technology optimized for memory-bandwidth intensive applications
10-Q filed 2024-02-29, Product Technologies
increasing demand growth, driven in part by deployment of artificial intelligence and mostly normal customer inventories
10-Q filed 2024-02-29, Industry Conditions
AI Products Identified (Ring 1)
HBM3E (early qualification shipments)
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Data center DDR5 for AI server platforms
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix