Micron and Anthropic signed a deal focused on AI memory and storage architecture, long-term supply agreements, and enterprise adoption of Anthropic’s Claude model

  • Micron’s portfolio of high-bandwidth memory, DRAM, and SSD products is expected to play a key role in supporting Anthropic’s growing compute requirements.
  • In May, Anthropic raised $65 billion in its Series H funding round, with Micron among strategic investors.
  • Micron is expected to report a revenue of roughly $35.07 billion and earnings of $20.15 per share in the third quarter, according to Fiscal.ai data.

Shares of Micron Technology (MU) climbed 5% to an all-time high on Monday, after the company extended its strategic partnership with Anthropic, just weeks after participating in the AI startup’s Series H funding round.

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The collaboration covers AI memory and storage architecture, long-term supply agreements, enterprise adoption of Anthropic’s Claude models, and infrastructure optimization for next-generation artificial intelligence systems.

Micron’s portfolio of high-bandwidth memory (HBM), DRAM, and SSD products is expected to play a key role in supporting Anthropic’s growing compute requirements.

Micron’s Investment In Anthropic

In May, Anthropic raised $65 billion in its Series H funding round, at a post-money valuation of $965 billion. The round was backed by investors including Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, and Amazon, among others.

Infrastructure firms such as Micron, Samsung, and SK Hynix also participated in the round. Anthropic said these partnerships will help ensure it can reliably expand the computing capacity needed to support growing demand for its Claude AI models.

DRAM Expected To Drive Q3 Growth

Investors are also gearing up ahead of Micron’s third-quarter (Q3) earnings on Wednesday. The increasing adoption of AI is driving strong demand for advanced memory and storage solutions, positioning Micron Technology as a key beneficiary of the trend. As large language models and generative AI workloads require greater computing power and faster data access, demand for high-performance Dynamic Random Access Memory (DRAM) continues to rise.

The DRAM business is expected to be the primary engine of Micron’s fiscal third-quarter growth. Analysts currently forecast quarterly revenue of roughly $35.07 billion and earnings of $20.15 per share, according to Fiscal.ai data.

MU Bulls Eye $1,500 For The Stock

Despite the share price increase, retail sentiment surrounding MU on Stocktwits turned ‘bearish’ from ‘neutral’ a day earlier.

One user expects the stock to cross $1,500 by the end of July.

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Another user said the AI era is changing the cyclical nature of the stock.

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MU shares have surged more than 324% so far this year.

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