U.S. memory chip maker Micron Technology announced on Wednesday that it will exit the memory business targeted at end consumers and instead focus on high-end memory chips required for artificial intelligence data centers, amid a global shortage of memory chips. Following the announcement, Micron's stock price fell approximately 2.6% during trading. Micron will discontinue its Crucial consumer business, selling off inventory until the end of February 2026, while continuing to supply enterprise-grade products to commercial customers worldwide. Micron's move aims to better serve strategic customers and capitalize on the memory and storage demand driven by the growth of AI-powered data centers.
