Micron Technology’s NAND revenue jumped 526% year over year to a record $14.1 billion in its fiscal fourth quarter as AI data centers expanded storage demand alongside the high-speed memory used by GPUs. AI systems increasingly rely on storage tiering, moving processed information from HBM (high-bandwidth memory) to DRAM and then NAND when faster memory cannot hold it all. Micron’s data-center SSD revenue approached $10 billion, more than 10 times the year-earlier level and over two-thirds of total NAND revenue. Counterpoint Research research director MS Hwang said cloud providers are ordering SSDs earlier as memory investment remains concentrated in DRAM and NAND supply tightens. Micron’s NAND prices rose about 30% sequentially, while customers are seeking efficiencies such as reusing older DRAM. Micron shares ended Thursday about 3% higher after recovering from initial post-earnings losses. Polymarket puts the chance of the AI bubble bursting by June 30, 2027, at about 18%, with roughly $3 million traded across the overall market.