The market asked for an AI audit. Micron $MU just dropped the receipt.
$18.7B next-quarter revenue. $8.42 EPS. The reason most models missed it is simple: they still price AI by GPUs.
The real denominator is 1GW.
In my 1GW framework, GPU counts barely move. But the bill explodes where the system actually chokes: memory wafers.
My slides called it months ago: Memory Wafers +139%.
Tonight’s guide is what you get when the bottleneck migrates from “compute” to bandwidth + power.
Don’t trade the headline. Trade the constraint.
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Tigris | 会讲课教授是好老师 · 2025-12-18 · 帖子
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