Micron Technology has announced a restructuring initiative to better align with the storage needs of major cloud service providers, particularly focusing on AI-related demands. The company has introduced a new division named the "Cloud Storage Business Unit," which will concentrate on products for hyperscale enterprises and high-bandwidth memory (HBM) chips. These chips are crucial for data-intensive AI tasks and are often used with AI graphics processors, notably those from Nvidia, drawing significant investor attention.
Micron is one of the top three global storage chip manufacturers, alongside South Korea's SK Hynix and Samsung. In March, Micron projected its quarterly revenue to exceed Wall Street expectations, driven by HBM chip demand. The new HBM-focused division will be led by Raj Narasimhan, who previously managed the "Compute and Networking Business Unit." This unit covered storage products for data centers, PCs, graphics, and networking markets.
Other new divisions include the "Core Data Center Business Unit," focusing on storage solutions for data center equipment manufacturers, the "Mobile and Client Business Unit" for mobile markets, and the "Automotive and Embedded Business Unit" for automotive, industrial, and consumer sectors. Each division will be led by existing company executives.
