Latest news with #SumitSadana
Business Times
03-07-2025
- Business
- Business Times
Micron sees new Singapore plant as key in plan to meet rising demand for AI-enabling chips
[SINGAPORE] A new will underpin Micron Technology's plans to produce advanced semiconductors needed for artificial intelligence (AI) applications. The facility, which is adjacent to Micron's existing plant in Woodlands, was announced earlier in 2025 and will initially create 1,400 jobs, with that increasing to around 3,000. Production at the plant will start in 2026, allowing the American chipmaking giant to increase its output of what are known as AI-enabling high-bandwidth memory (HBM) chips, according to Sumit Sadana, its executive vice-president and chief business officer. The chips contain several layers that make a cube able to store and process large amounts of data faster while consuming a lot less power than conventional chips. They enable graphics processing units and other accelerators made by companies such as Nvidia and AMD to process generative AI workloads at data centres. The HBM market is worth about US$35 billion, but Micron expects that it will approach US$100 billion by 2030. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up 'That's a massive amount of growth in the HBM market, and in order to meet the growth expectations that we have, we have been making plans for HBM capacity expansion,' Sadana told an online briefing on Jul 2. Micron is expanding its existing HBM output in Taiwan, but that capacity is likely to be used up quite quickly, so it will need more facilities to meet the expected demand in the coming years. 'We are rapidly going to run out of space in our facility in Taiwan. So, the Singapore facility will be very important to continue our HBM growth,' said Sadana. 'We are super excited about the AI opportunity, and Singapore will certainly have a strong role to play in a lot of the AI-based innovation that we are doing.' Micron has also announced plans to start producing HBM chips in the United States; however, the Singapore plant will be up and running by the time production there kicks off. The firm – the top memory-chip maker in the US – unveiled a 'strategic reorganisation' of its business units in April designed to capitalise on the growth driven by AI, from data centres to devices such as computers and mobile phones. The reorganisation will make the company structure more market-focused rather than product-focused. The new four business units will include a cloud memory business unit focused on large hyperscale cloud customers and HBMs for data centre customers. There will be a separate mobile and client business unit, and one for automotive, industrial and consumer segments. 'This new structure will increase our resources towards data centres and allow us to have the end-to-end capability to serve AI in all segments,' said Sadana. He said Singapore will continue to be the company's main production base of Nand flash memory chips used in solid-state drives, USB drives and mobile phones. Nand constituted 22 per cent of Micron's total revenue of US$9.3 billion in the third quarter of 2025, with turnover from data centres more than doubling year on year to hit a quarterly record. Sadana said revenue from Singapore would keep increasing, especially when HBM output starts, noting: 'That's going to be a very big positive for us to be able to leverage Singapore for HBM sales that are, you know, very high-value sales that are growing rapidly.' THE STRAITS TIMES
Straits Times
02-07-2025
- Business
- Straits Times
Micron sees new Singapore plant as key in plan to meet rising demand for AI-enabling chips
Sign up now: Get ST's newsletters delivered to your inbox Production at the plant will start in 2026. SINGAPORE – A new US$7 billion (S$8.9 billion) plant being built in Singapore will underpin Micron Technology's plans to produce advanced semiconductors needed for artificial intelligence (AI) applications. The facility, which is adjacent to Micron's existing plant in Woodlands, was announced earlier in 2025 and will initially create 1,400 jobs, with that increasing to around 3,000. Production at the plant will start in 2026, allowing the American chipmaking giant to increase its output of what are known as AI-enabling high-bandwidth memory (HBM) chips, according to Mr Sumit Sadana, its executive vice-president and chief business officer. The chips contain several layers that make a cube able to store and process large amounts of data faster while consuming a lot less power than conventional chips. They enable graphics processing units and other accelerators made by companies such as Nvidia and AMD to process generative AI workloads at data centres. The HBM market is worth about US$35 billion, but Micron expects that it will approach US$100 billion by 2030. 'That's a massive amount of growth in the HBM market, and in order to meet the growth expectations that we have, we have been making plans for HBM capacity expansion,' Mr Sadana told an online briefing on July 2. Top stories Swipe. Select. Stay informed. Singapore Singapore and Cambodia to expand collaboration in renewable energy, carbon markets and agri-trade World Trump announces Vietnam trade deal with 20% import tariff Singapore From camping to mentorship, Singapore Scouts mark 115th anniversary of the youth movement Singapore Ong Beng Seng's court hearing rescheduled one day before he was expected to plead guilty World Sean 'Diddy' Combs convicted on prostitution counts but cleared of more serious charges Singapore Teen, 17, to be charged with allegedly trespassing on MRT tracks Singapore Granddaughter of Hin Leong founder O.K. Lim fails to keep 3 insurance policies from creditors' reach Singapore Man on trial for raping drunken woman after offering to drive her and her friend home Micron is expanding its existing HBM output in Taiwan, but that capacity is likely to be used up quite quickly, so it will need more facilities to meet the expected demand in the coming years. 'We are rapidly going to run out of space in our facility in Taiwan. So, the Singapore facility will be very important to continue our HBM growth,' said Mr Sadana. 'We are super excited about the AI opportunity, and Singapore will certainly have a strong role to play in a lot of the AI-based innovation that we're doing.' Micron has also announced plans to start producing HBM chips in the United States; however, the Singapore plant will be up and running by the time production there kicks off. The firm – the top memory-chip maker in the US – unveiled a 'strategic reorganisation' of its business units in April designed to capitalise on the growth driven by AI, from data centres to devices such as computers and mobile phones. The reorganisation will make the company structure more market-focused rather than product-focused. The new four business units will include a cloud memory business unit focused on large hyperscale cloud customers and HBMs for data centre customers. There will be a separate mobile and client business unit, and one for automotive, industrial and consumer segments. 'This new structure will increase our resources towards data centres and allow us to have the end-to-end capability to serve AI in all segments,' said Mr Sadana. He said Singapore will continue to be the company's main production base of Nand flash memory chips used in solid-state drives, USB drives and mobile phones. Nand constituted 22 per cent of Micron's total revenue of US$9.3 billion in the third quarter of 2025, with turnover from data centres more than doubling year on year to hit a quarterly record. Mr Sadana said revenue from Singapore would keep increasing, especially when HBM output starts, noting: 'That's going to be a very big positive for us to be able to leverage Singapore for HBM sales that are, you know, very high-value sales that are growing rapidly.'
Yahoo
02-07-2025
- Business
- Yahoo
Micron Insider Cashes Out Big -- Sells $11.6 Million in Shares Amid AI Boom
July 2 - Sumit Sadana, Executive Vice President and Chief Business Officer of Micron Technology (NASDAQ:MU), sold 92,638 shares on June 27 at an average price of $125.49, netting $11.6 million, according to a recent filing with the Securities and Exchange Commission. In fiscal Q3 ended May 29, Micron Technology (NASDAQ:MU) reported revenue of $9.30 billion, up 37% year?on?year. High?bandwidth memory (HBM) revenue jumped nearly 50% sequentially, driving record DRAM sales. CFRA lifted its price target to $155 from $117 and kept a Buy rating, citing Micron's expansion in high?bandwidth memory (HBM). Stifel also raised its target to $145, highlighting stronger data?centre demand. Baird set a $200 goal, calling the outlook transformational as Micron gains market share in HBM. Warning! GuruFocus has detected 7 Warning Sign with MU. Separately, Micron launched its 2600 NVMe SSD, featuring ninth?generation QLC NAND flash with Adaptive Write Technology to boost write speeds. The drive, aimed at OEMs, offers performance rivaling higher?tier TLC models and is shipping worldwide for ultra?thin laptops and workstations. Following his sale, Sadana still owns 201,326 MU shares. Investors will watch whether Micron's product innovations and robust guidance sustain its growth momentum. Based on the one year price targets offered by 34 analysts, the average target price for Micron Technology Inc is $142.73 with a high estimate of $200.00 and a low estimate of $60.00. The average target implies a upside of +18.06% from the current price of $120.89. Based on GuruFocus estimates, the estimated GF Value for Micron Technology Inc in one year is $164.79, suggesting a upside of +36.31% from the current price of $120.89. Gf value is Gurufocus' estimate of the fair value that the stock should be traded at. it is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. For deeper insights, visit the forecast page. This article first appeared on GuruFocus.
Reuters
26-06-2025
- Business
- Reuters
Micron shares rise on bets of strong demand for AI-related memory chips
June 26 (Reuters) - Micron Technology (MU.O), opens new tab shares rose 2% in premarket trading on Thursday, after a robust forecast from the chipmaker for fourth-quarter revenue on booming demand for its memory chips that power AI data centers. The company saw a nearly 50% jump in sales of high-bandwidth memory (HBM) chips for the third quarter compared to the previous three months. Micron is one of the providers of HBM chips besides South Korea's SK Hynix ( opens new tab and Samsung ( opens new tab "AI servers are giving Micron an over-caffeinated growth spurt... (and) Micron is the only kid on the block shipping HBM3E at scale," said Michael Ashley Schulman, partner at Running Point Capital Advisors. Micron said it will continue to invest in HBM chips which reflects the growing demand from AI chip front runners - Nvidia (NVDA.O), opens new tab and Advanced Micro Devices (AMD.O), opens new tab, who are customers of the company. said it expects Micron's HBM chip sales to accelerate, hitting a $8 billion annualized revenue run rate over the next one to two quarters. Micron's Chief Business Officer Sumit Sadana told Reuters the extent of tariff-related pull-ins from customers in the third quarter was fairly modest. "Strength in AI set to be a material contributor to results, we see a scenario where the narrative isn't all about tariff impacts," Morgan Stanley analysts said in a note. Following the results, at least 10 brokerages raised their price targets on the stock. Shares of peers AMD, Nvidia and Marvell Technology (MRVL.O), opens new tab rose between 1-2% in premarket trading. Micron is up 51.2%, while AMD and Nvidia have gained about 19% and 15%, respectively, so far this year. Micron has a 12-month forward price-to-earnings ratio of 11.85, compared to SK Hynix's 6.48 and Samsung's 11.57.
Yahoo
19-04-2025
- Business
- Yahoo
Micron Announces Business Unit Reorganization to Capitalize on AI Growth Across All Market Segments
BOISE, Idaho, April 17, 2025 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU), a leader in innovative memory and storage solutions, today announced a market segment-based reorganization of its business units to capitalize on the transformative growth driven by AI, from data centers to edge devices. Micron has maintained multiple generations of industry leadership in DRAM and NAND technology and has the strongest competitive positioning in its history. Micron's industry-leading product portfolio, combined with world-class manufacturing execution enables the development of differentiated solutions for its customers across end markets. As high-performance memory and storage become increasingly vital to drive the growth of AI, this Business Unit reorganization will allow Micron to stay at the forefront of innovation in each market segment through deeper customer engagement to address the dynamic needs of the industry. Micron will begin transitioning to this new business structure immediately. The transition will be complete early in the company's fiscal fourth quarter, which begins on May 30, 2025. Micron will report financial results under the new business structure starting with the fourth quarter of fiscal year 2025. The four business units will be: Cloud Memory Business Unit (CMBU): Focused on memory solutions for large hyperscale cloud customers, and high-bandwidth memory (HBM) for all data center customers. Raj Narasimhan, Senior Vice President and General Manager, who has led the Compute and Networking Business Unit (CNBU), will lead CMBU. Core Data Center Business Unit (CDBU): Focused on memory solutions for OEM data center customers and storage solutions for all data center customers. Jeremy Werner, Senior Vice President and General Manager, who has led the Storage Business Unit (SBU), will lead CDBU. Mobile and Client Business Unit (MCBU): Focused on memory and storage solutions for mobile and client segments. Mark Montierth, Corporate Vice President and General Manager, who has led the Mobile Business Unit (MBU), will lead MCBU. Automotive and Embedded Business Unit (AEBU): Focused on memory and storage solutions for the automotive, industrial and consumer segments. Kris Baxter, Corporate Vice President and General Manager, who has led the Embedded Business Unit (EBU), will lead AEBU. All four business units will continue to report to Sumit Sadana, Executive Vice President and Chief Business Officer. "This reorganization completes our evolution to a market segment-focused business unit structure, with exciting AI-led growth opportunities in every business unit,' said Sumit Sadana, EVP and Chief Business Officer at Micron Technology. 'This structure sharpens our ability to partner deeply with customers and build on our tremendous portfolio momentum with differentiated solutions for all end markets.' About Micron Technology, Inc. Micron Technology, Inc. is an industry leader in innovative memory and storage solutions, transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit © 2025 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners. Micron Media Relations Contact Mark Plungy+1 (408) 203-2910mplungy@ Micron Investor Relations Contact Satya Kumar +1 (408) 450-6199 satyakumar@
