Micron has been aided by the struggles of its biggest rival in the memory chip business, Samsung Electronics Co. Ltd., which has not yet been able to mass-produce HBM chips, resulting in demand for the chips outstripping supply.

Micron Technology forecast fourth-quarter revenue above Wall Street estimates on Wednesday on robust demand for its high-bandwidth memory (HBM) chips used in artificial intelligence data centers. The memory chip maker reported a nearly 50% jump in third-quarter sales of its HBM chips from the previous three months,

Micron has raised its Q4 financial predictions based on a surge in demand for artificial intelligence hardware, with the expectation that the demand wil