Memory and semiconductor companies including Micron are experiencing significant growth spurts driven by surging AI infrastructure demand.

Micron Technology reported record quarterly revenue driven by strong data center growth, with the segment's sales increasing more than 400% from a year earlier and over 40% from the previous quarter amid rising artificial intelligence-related demand. The chipmaker posted revenue of $8.71 billion for the fiscal first quarter ended November 28, up from $4.73 billion a year earlier. Data center revenue exceeded 50% of total revenue for the first time in company history, highlighting a significant shift in Micron's business mix.

CEO Sanjay Mehrotra stated, "Micron delivered a record quarter, and our data center revenue surpassed 50% of our total revenue for the first time." The company reported net income of $1.87 billion, or $1.67 per share, compared with a loss of $1.23 billion, or $1.12 per share, in the year-ago quarter. The company generated an operating cash flow of $3.24 billion, slightly down from $3.41 billion in the previous quarter. Looking ahead, Micron forecasts second-quarter revenue of $7.9 billion, plus or minus $200 million, while noting that consumer-oriented markets remain soft in the near term. However, the company anticipates a return to growth in the second half of its fiscal year. Mehrotra added, "We continue to gain share in the highest margin and strategically important parts of the market and are exceptionally well-positioned to leverage AI-driven growth."

Databricks, a data and artificial intelligence company based in San Francisco, is raising $10 billion in non-dilutive financing at a $62 billion valuation, marking one of the largest private funding rounds as investors bet on AI infrastructure growth. The company has completed $8.6 billion of its Series J financing to date, led by Thrive Capital with participation from major investors including Andreessen Horowitz and DST Global, as announced December 17.

Accounting technology startup Basis secured $34 million in Series A funding to expand its artificial intelligence platform that helps automate accounting tasks. The round was led by Khosla Ventures Managing Director Keith Rabois, with participation from former GitHub CEO Nat Friedman and Safe Superintelligence Co-Founder Daniel Gross. The funding follows the company's $3.6 million seed round in October 2023, with the announcement made December 17.