Micron Technology Inc. posted record fiscal third-quarter results, lifted by surging demand for memory used in artificial-intelligence hardware. Revenue rose 37% from a year earlier to $9.30 billion, beating the roughly $8.85 billion analysts expected. Adjusted earnings came in at $1.91 a share, well above the $1.60 consensus, while GAAP earnings were $1.68. The company’s gross margin expanded to 39%, surpassing forecasts. Sales of dynamic random-access memory hit an all-time high and revenue from high-bandwidth memory jumped nearly 50% from the prior quarter. Micron said data-center revenue more than doubled year-on-year as cloud providers raced to secure components for AI workloads. CEO Sanjay Mehrotra told investors the company is “on track to deliver record revenue with solid profitability and free cash flow in fiscal 2025.” For the current quarter ending in August, Micron projected revenue of $10.4 billion to $11 billion and adjusted earnings of $2.35 to $2.65 a share, both meaningfully above Wall Street estimates. The chipmaker also guided to a gross margin of about 42%, signaling further operating-profit expansion as AI-related orders accelerate. Shares of the Boise, Idaho-based company rose about 4% in late trading after the release. Micron’s stock has gained roughly 51% this year, making it one of the top performers in the S&P 500 as investors look beyond marquee chip designers to secondary beneficiaries of the AI spending boom.