The AI boom has created a global shortage of memory chips, a critical component for AI models. Despite the chaos, some companies are reaping the benefits.

Micron, America's largest computer-memory chip maker, has seen its stock price quadruple in less than two years, hitting $1,048.51 per share. The company reported a staggering revenue increase from $10.36 billion to $41.45 billion over the last year.

Tim Cook of Apple warned that these rising costs will inevitably pass on to consumers, but Micron’s outlook is bright. They predict fourth-quarter revenues could top $51 billion, with a profit increase from $1.88 billion to an astounding $28.2 billion in the same period.

Micron has also secured a deal with AI lab Anthropic for memory and storage chips and participated in their latest funding round, though the exact amount is not disclosed. This marks another step forward for Micron as it navigates the volatile tech market.