While all eyes are on Micron Technology‘s (NASDAQ: MU) fiscal 2026 third-quarter earnings report, which will be released after the market closes on June 24, the memory specialist has just announced a strategic partnership with artificial intelligence (AI) specialist Anthropic, which could be a big deal in the long run.
On June 22, Micron said that its strategic agreement with Anthropic involves the design and supply of memory and storage infrastructure for AI data centers, as well as an investment in the AI company’s Series H funding round (a late-stage funding round that usually takes place before a company goes public). There are a few reasons why this strategic engagement with Anthropic could be a catalyst for Micron’s business in the long run.
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Let’s take a closer look at them.
Micron Technology can capitalize on Anthropic’s red-hot growth
Anthropic is considered to be one of the most valuable pure-play AI companies in the world. It was valued at $965 billion in its latest funding round last month, making it more valuable than OpenAI. It is worth noting that Anthropic’s valuation has ballooned significantly of late, rising from $380 billion in February.
The rapid inflation in Anthropic’s valuation can be attributed to its phenomenal growth rate. The company’s annual revenue run rate sits at $47 billion, according to the latest update offered a month ago. Anthropic, therefore, is on track to deliver a significant jump in its top line from $10 billion last year.
This remarkable revenue growth is driven by an increase in Anthropic’s user base, a nice chunk of whom pay for using its AI models. Not surprisingly, Anthropic has been looking to secure more data center compute capacity. As memory plays a central role in handling AI workloads in data centers, Micron has made the right move by collaborating with Anthropic to support its “multi-year growth trajectory as the frontier AI lab scales its compute strategy for the long term.”
Given that Micron is going to spend $200 billion in the U.S. to build more fabrication plants and expand its current facilities, securing a partnership with Anthropic should ensure it has a fast-growing customer ready to buy the chips it will produce from its new fabs. Of course, the ongoing memory supply shortage is predicted to last until 2030, but it makes sense to ensure that the demand pipeline stays robust.
So, Micron has made a smart move by entering into a multi-year memory and storage supply agreement with Anthropic.
The Micron bull case just got stronger
The Micron-Anthropic partnership makes it clear that hyperscalers and AI companies continue to lock-in the available supply of hardware components to support infrastructure rollouts. Micron noted in its March earnings call that it signed its first-ever five-year supply agreement in fiscal Q2, and the Anthropic partnership suggests that it could continue to land more such deals.
So, don’t be surprised to see Micron sustaining its phenomenal growth over the long run. Analysts are anticipating its top line to jump by just over 3x in the current fiscal year, though it is worth noting that the estimates for the next two years have climbed significantly.
Finally, as the memory supply shortage is likely to last until the end of the decade, the solid growth in Micron’s revenue should translate into a robust improvement in its bottom line. That’s why buying Micron stock while it trades at just 11 times forward earnings seems like the smart thing to do.
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Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy.
Micron Technology Has Made a Terrific Move Before Its June 24 Earnings Report was originally published by The Motley Fool
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: finance.yahoo.com
