Memory · DRAM/NAND/HBM

Micron Technology

One of the three major US memory makers. Supplies HBM3E to NVIDIA H200 and AMD MI350, joining the AI-memory race. FY2025 revenue $37.4B, adopting EUV (1-gamma).

MU Updated 2026-06-20

Money in ▸NVIDIA●AMD●Apple◐Broadcom◐

Micron Technology$37.4B

▸ Money outASML●Lam Research◐

Financials & Segments

Total revenue · $37.4B (FY2025; FY24 $25.1B, FY23 $15.5B)
Customer concentration · Largest single customer 17% (FY2025, CMBU cloud segment, customer not disclosed). FY24 10%, FY23 <10%
Segments · CMBU · MCBU · AEBU · Storage

Revenue from

NVIDIA High confidence
NVIDIA's 10-K names Micron as a memory (incl. HBM) supplier (buyer-side primary). Micron's largest single customer at 17% (FY2025, CMBU cloud) is undisclosed, so NVIDIA is inferred but unconfirmed.
Confirms EN SEC EDGAR Published Feb 26, 2026: "NVIDIA 10-K: "We purchase memory from SK Hynix Inc., Micron Technology, Inc., and Samsung." Buyer-side primary filing confirming Micron to NVIDIA supply."
Mentions EN SEC EDGAR Published Oct 3, 2025: "Micron 10-K: "Revenue from one customer was 17% (primarily included in the CMBU segment) of total revenue for 2025." The customer is undisclosed, so NVIDIA cannot be confirmed (inferred)."
Confirms KO ETNews Published Feb 27, 2024: "ETNews: Micron started HBM3E mass production for NVIDIA's H200, entering the market ahead of Samsung and SK."
AMD High confidence
Supplies 36GB 12-high HBM3E to AMD Instinct MI350 (dual-sourced with Samsung). The prior MI325X used 8-high HBM3E.
Confirms EN TrendForce Published Jun 13, 2025: "TrendForce: AMD MI350 is built on TSMC N3P and uses Samsung and Micron as dual HBM3E suppliers."
Confirms EN Micron / Nasdaq Published Jun 12, 2025: "Micron: integrated 36GB HBM3E into the AMD Instinct MI350 series."
Mentions EN AMD Published Jun 12, 2025: "AMD: the MI350 series carries 288GB of HBM3E (Micron and Samsung)."
Apple Medium confidence
Supplies iPhone memory to Apple (one of three).
Mentions KO Korea Economic Daily Published Dec 21, 2025: "Micron is among the three iPhone LPDDR suppliers."
Broadcom Medium confidence
Supplies HBM for Broadcom's AI accelerators.
Mentions KO ZDNet Korea Published Mar 5, 2026: "Demand for Samsung, SK and Micron HBM expands with Broadcom's AI chips."

Pays to

ASML High confidence
Buys EUV lithography tools. 1-gamma is Micron's first EUV DRAM node, with EUV expanding at 1-delta. ASML is the sole EUV supplier.
Confirms EN SEC EDGAR Published Oct 3, 2025: "Micron 10-K: "...our first DRAM node incorporating EUV lithography..." and "...a single or sole source, and we may be unable to qualify new suppliers..." ASML is the sole EUV equipment supplier."
Mentions EN TrendForce Published Mar 11, 2025: "TrendForce: Micron sampled 1-gamma DDR5 using EUV, with EUV expanding at 1-delta."
Confirms EN Micron IR / GlobeNewswire Published Feb 25, 2025: "Micron IR: shipped 1-gamma DRAM, its first DRAM node using EUV lithography."
Lam Research Medium confidence
Buys etch and deposition tools (memory scaling). Micron named among Lam's main customers.
Mentions EN Granitefirm Analysis Published Aug 12, 2024: "Granitefirm: Lam Research's main customers are TSMC, Samsung, Micron and Intel, with strengths in etch and deposition."

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