Micron Technology (MU) shares jumped around 6% on Monday to a record closing high of $1,192, propelled by a multi-year strategic agreement with AI firm Anthropic. The memory chipmaker announced a broad partnership encompassing supply of high-bandwidth memory (HBM), DRAM, and solid-state drives for Anthropic's data centers, joint research on memory and storage performance across AI workloads, and Micron's deployment of Anthropic's Claude models across its operations.
The deal also includes a strategic investment by Micron in Anthropic's Series H funding round, though financial terms were not disclosed. Anthropic, valued at $965 billion after raising $65 billion in that round, has been rapidly securing compute capacity with partners like AWS, Google, CoreWeave, Broadcom, and SpaceX. A confidential IPO filing in June adds urgency to its infrastructure push.
Micron gains a multi-year commercial opportunity tied to Anthropic's expansion, while the collaboration yields direct insights into advanced computing hardware needs. The company already uses Claude models in engineering, manufacturing, and software development, making it both supplier and customer. MU's surge, a 5.58% gain, came just ahead of its June 24 earnings call, reflecting investor optimism about its role in the AI infrastructure boom. The stock has risen over 300% year to date.
