Latest news with #SumitSadana
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@
Globe and Mail
17-04-2025
- Business
- Globe and Mail
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) 203-2910 mplungy@ Micron Investor Relations Contact Satya Kumar +1 (408) 450-6199 satyakumar@
Associated Press
17-04-2025
- Business
- Associated Press
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: 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 Micron Media Relations Contact Mark Plungy +1 (408) 203-2910 [email protected] Micron Investor Relations Contact Satya Kumar +1 (408) 450-6199 [email protected]
Reuters
21-03-2025
- Business
- Reuters
Chipmaker Micron's shares slump as tepid margin forecast eclipses AI prospects
March 21 (Reuters) - Micron's (MU.O), opens new tab shares fell 8% on Friday, as its dour margin forecast took the shine off a robust quarterly revenue outlook driven by demand for its semiconductors used in artificial intelligence tasks. Micron, one of only three providers of high-bandwidth memory (HBM) chips for data-intensive generative AI applications, forecast adjusted gross margin below estimates on Thursday, as lower pricing for consumer memory chips hits profitability. After a 1.4% drop in 2024, Micron's shares have gained more than 13% this year as investors bet on improving consumer memory chip pricing and expected the company to benefit from its essential position in AI supply chains. "NAND Flash oversupply remains a drag on margins," Rosenblatt analysts said in a note on Friday, referring to a type of memory chip used in consumer electronics like smartphones and personal computers. Soft end-market demand and aggressive buying by electronics suppliers during the pandemic led to oversupply of the consumer memory chips, resulting in weaker pricing. Micron forecast third-quarter adjusted gross margin of about 36.5%, marginally below analysts' average estimate of 36.9%, according to data compiled by LSEG. The forecast represents a sequential drop of 3 percentage points. "There has been a challenging industry environment in NAND," Micron's chief business officer Sumit Sadana said on Thursday during a post-earnings call. Micron has been cutting back on NAND production, resulting in underutilization which spreads fixed costs over a smaller output, hurting margins. AI DEMAND PERSISTS The ramp-up of HBM production to meet strong demand for its AI memory chips from GPU market leaders like Nvidia (NVDA.O), opens new tab, has also pressured margins. Micron forecast third-quarter revenue above estimates, owing to AI-linked strength. "We see high-bandwidth memory as a key growth driver," Morningstar analysts said, adding that they expect "continued AI and data center demand."
