Micron’s 346% Revenue Surge and Qualcomm’s $40B AI Chips Plan Spotlight Nvidia
NVDA•Nvidia-related stocks rose after Micron reported a 346% quarterly revenue jump to $41.5 billion and Qualcomm raised its fiscal 2029 non-handset revenue target to $40 billion, including $15 billion in data centre sales. SK Hynix spiked 11.6% and Samsung 6.2% as Micron forecast $22 billion in memory chip preorders, highlighting AI capacity constraints for Nvidia GPUs.
1. Futures Rally on Chip Supplier Results
Nvidia-related stock futures climbed nearly 2% in extended trading after Micron posted a 346% quarterly revenue increase to $41.5 billion and Qualcomm lifted its fiscal 2029 non-handset revenue goal to $40 billion, driven by robust AI demand and bullish data centre projections.
2. Memory Preorders Signal Capacity Pressure
Micron forecast $22 billion in customer commitments to memory chip supply for AI data centres, sending SK Hynix shares up 11.6% and Samsung Electronics up 6.2%, underscoring potential capacity tightness for Nvidia’s GPU production schedule.
3. Qualcomm’s AI Data Center Bid
Qualcomm unveiled its Dragonfly data centre chipset lineup in partnership with Meta and set a $15 billion data centre revenue target within its $40 billion fiscal 2029 non-handset goal, signaling intensified competition for Nvidia in AI processor markets.
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