Rebooting Micron: A Great Inventory Slim-Down to Prep for the AI-Powered Future [The Motley Fool]
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Micron has a few tricks up its sleeve to tackle market challenges. Here's how ChatGPT and friends fit into Micron's long-term growth plans.The semiconductor market's ongoing downturn has been as stubborn as a computer virus, but(MU5.72%The company's hot-off-the-presses report for the second quarter of fiscal year 2023 showed declining revenues and margins. At the same time, it highlighted the company's efforts to manage inventory and long-term growth prospects driven by the rising demand for artificial intelligence (AI) technologies. In particular, management mentioned OpenAI's ChatGPT and similar large language models (LLMs), which rely on massive amounts of digital memory.Micron's meager financialsThings were far from chipper for Micron in the just-reported quarter, as the company faced a challenging market environment. Many consumer-driven end markets are at a standstill due to tightened budget belts, and economic activity is curbed even more due to a global web of shortages in ma
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- Leading China VC Kai-Fu Lee warns an investor reckoning is coming for unprofitable AI companies [Fortune]Fortune
- Amazon injects another $2.75 billion into startup founded by siblings who worked at OpenAI [Fortune]Fortune
- Amazon doubles down on Anthropic, completing its planned $4B investment [Yahoo! Finance]Yahoo! Finance
- TikTok makes $2.1 million TV ad buy as Senate reviews bill that could ban app [CNBC]CNBC
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