The HBM3E (High Bandwidth Memory 3E) will consume 30% less power than rival offerings, Micron said, and could help tap into soaring demand for chips that power generative AI applications.
Demand for high-bandwidth memory (HBM) chips, a market led by Nvidia supplier SK Hynix, for use in AI has also raised investor hopes that Micron would be able to weather a slow recovery in its other markets.
HBM is one of Micron's most profitable products, in part because of the technical complexity involved in its construction.
The company had previously said it expects "several hundred million" dollars of HBM revenue in fiscal 2024 and continued growth in 2025.
