Micron, a memory chip maker, has seen its stock soar over 236% in the past month due to a shortage of system memory chips caused by the AI data center buildout boom. The company’s revenue quadrupled year-over-year to $41.45 billion, and profits skyrocketed from $1.88 billion to $28.2 billion. This surge is driven by AI system makers and hyperscalers buying up large quantities of memory, leading to a shortage that’s expected to persist into 2027. Why it matters: Micron’s success is significant in the broader AI landscape because it highlights the critical role of memory chips in enabling AI technologies, and the company’s ability to navigate the challenges of supply and demand will be crucial to its long-term success.