Micron agreed to supply Anthropic with HBM, DRAM and SSDs under a multi-year AI infrastructure deal and invested in Anthropic’s Series H funding round to co-develop next-generation memory and storage architecture. Bernstein raised MU’s price target to $1,300 from $510, pushing shares 3% higher before the June 24 fiscal Q3 report as DRAM tightness supports pricing.
Micron unveiled a strategic collaboration with Anthropic to co-develop next-generation AI memory and storage architecture, including joint work on high-bandwidth memory (HBM), DRAM and SSD performance, power efficiency and token economics across training and inference workloads.
Under a multi-year supply agreement, Micron will provide Anthropic with enterprise-class HBM, DRAM and SSD solutions to support its long-term compute scaling, while also taking a direct equity stake in Anthropic’s Series H to align incentives in AI infrastructure innovation.
An analyst upgrade lifted Micron’s price target from $510 to $1,300, propelling shares up 3% in premarket trading as investors anticipate strong pricing power from sustained DRAM tightness ahead of the June 24 fiscal Q3 earnings report.
