"Alphabet's TurboQuant algorithm reduces key-value memory size by at least 6x without sacrificing accuracy, raising concerns about future demand for Micron's memory products."
"The selloff has affected not only Micron but also other semiconductor companies, with Lam Research experiencing an 8.67% drop due to similar concerns regarding AI memory efficiency."
Micron Technology's stock has dropped 5% in early trading, extending a decline of approximately 1% over the past week. Despite being up 20% year to date and 289% over the past year, concerns arise from Google's TurboQuant AI memory-compression algorithm, which may reduce demand for Micron's high-bandwidth memory and DRAM products. This fear has triggered a sector-wide selloff, affecting other companies like Lam Research. Additionally, geopolitical instability and institutional investors trimming their positions are compounding the pressure on Micron's stock.
Read at 24/7 Wall St.
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