The following is excerpted from the question-and-answer section of the transcript.
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Question: John Vinh - KeyBanc Capital Markets Inc - Analyst
: Great. Thanks, Sumit. Maybe just a couple of follow-ups here. One, you called out strength in some key end markets. I think we've observed, from
an end market perspective, that there's been some pulling activity across certain end markets such as PC, smartphones and traditional servers.
What were the end markets where you saw strength? And do you think that some of this upside and strength that you're seeing were due to some
of these tariff-related points?
Question: John Vinh - KeyBanc Capital Markets Inc - Analyst
:
Question: John Vinh - KeyBanc Capital Markets Inc - Analyst
: Great. I do want to dive in, obviously, into your AI position in a minute. I had one more, just a follow-up question. I'm getting a lot of questions on.
Obviously, we know there's been shortages in DDR4, LPDDR4. To what extent did that also contribute to your strong results here in the near term?
Question: John Vinh - KeyBanc Capital Markets Inc - Analyst
: Great. Maybe switching to AI. Obviously, you've got an increasing strong positioning within the AI infrastructure market. Obviously, you're doing
extremely well with HBM. If you think about kind of the Grace platform, your LP DDR5s being used there. Maybe just help us understand what your
vision and positioning is within the AI infrastructure market and how you see that trending for you over the next several years?
Question: John Vinh - KeyBanc Capital Markets Inc - Analyst
: Maybe we could dive into HBM for a little bit. Can you talk about just where you are in terms of development process, where you are in terms of
qualification. And then maybe just talk about just the implications of some of the architecture changes that you referenced, right? So HBM 4, as
you referenced, is going to have a CMOS-based logic die that you and your peers are all fabricating, it sounds like it -- so does the introduction of
that logic die maybe level the playing field versus the competitors? Or does it help you differentiate versus your competitors?
Question: John Vinh - KeyBanc Capital Markets Inc - Analyst
: Thank you. Are there any questions? What are the features the embedded GPU embedded features or that absolutely be looking for. And do you
break the question
Question: John Vinh - KeyBanc Capital Markets Inc - Analyst
: Any other questions? One more follow-up on that, Sumit. I appreciate you walking us through how you're thinking about HBM4. But when we get
to HBM4E and we move to customer interfaces, I assume you would expect to be compensated with a premium on that for all the work that you're
putting in with your customers. Do you also think that when we get to HBM 4E, is your expectation is that you could have differentiated pricing.
So today, you have better performance in some of your memory chips, but it is still a commodity market, so everyone gets the same pricing. When
we get to HBM4E, could that be the end of commodity pricing in the memory market?
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AUGUST 11, 2025 / 3:00PM, MU.OQ - Micron Technology Inc at KeyBanc Technology Forum
Question: John Vinh - KeyBanc Capital Markets Inc - Analyst
: Looks like we are out of time. Thank you very much.
Question: John Vinh - KeyBanc Capital Markets Inc - Analyst
: Really appreciate it.
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