Micron posted fiscal Q3 revenue of $41.46 billion that more than quadrupled year-over-year while beating estimates on AI-driven memory demand. Results featured 16 long-term customer pacts carrying $22 billion in commitments plus current-quarter guidance of about $50 billion.
Once in place, the pacts are projected to represent approximately half or more of total company revenue.
The company ranks among the leading beneficiaries of the AI surge that has generated record need for its memory components inside Nvidia and Google processors as well as the servers containing them.
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AP says another wipeout for AI data-center stocks more than erased Wednesday's gains, which were Wall Street's best in three months. The S&P 500 closed down 4.4%, the Dow 1,833 points (3.4%), and the Nasdaq 5.5%. Nvidia fell about 9.2%, AMD about 17%, and CoreWeave about 9.8%. Democratic midterm wins raised the possibility of data-center construction pauses — a fear, not an enacted moratorium. AP called it the S&P's worst drop since the April 2025 Liberation Day tariffs.
Apple shares slid about 2% after the company forecast a gross margin of 45% to 46% for the December quarter, below analyst estimates, citing higher memory costs and Siri AI expenses. A decline would be the third straight quarter of lower margins, despite stronger-than-expected revenue and iPhone results.
fal raised $1.3 billion in a Series F at a $16 billion valuation, led by Bessemer Venture Partners with Nvidia, Sound Ventures, HOF Capital and T. Rowe Price participating, Bloomberg and TechCrunch reported. Bessemer's Talia Goldberg joins fal's board.
Google says it is launching a Knowledge Work layout in Antigravity for research, documents, and other non-code work, on the same agent as the coding interface.
Adobe and Disney announced a multi-year alliance on November 9, including custom generative models in Adobe Firefly Foundry trained on Disney properties.
