Micron Technology, Inc. (MU): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de la technologie des semi-conducteurs, Micron Technology, Inc. (MU) est un innovateur pivot, transformant la façon dont nous percevons les solutions de mémoire et de stockage dans les industries mondiales. En tirant parti d'un modèle commercial sophistiqué qui mélange des partenariats stratégiques, des recherches de pointe et des capacités de fabrication avancées, Micron s'est positionné comme un acteur critique de l'écosystème technologique, offrant des technologies de mémoire haute performance qui alimentent tout, des centres de données aux appareils mobiles. Cette exploration de la toile du modèle commercial de Micron révèle les stratégies complexes de leur succès remarquable dans le paysage des semi-conducteurs.

Micron Technology, Inc. (MU) - Modèle commercial: partenariats clés

Alliances stratégiques avec les principaux fabricants de technologies

Micron Technology maintient des partenariats stratégiques critiques avec les principaux fabricants de technologies:

Partenaire	Type de partenariat	Année établie
Intel Corporation	Collaboration de la technologie de la mémoire	2006
Apple Inc.	Contrat d'approvisionnement en mémoire	2017
Dell Technologies	Chaîne d'approvisionnement des composants	2019

Accords de développement conjoints

Micron collabore avec plusieurs institutions de recherche de semi-conducteurs:

• Université du Michigan - Recherche de mémoire avancée
• Université de Stanford - Innovations de conception de semi-conducteurs
• Institut de recherche de Semiconductor de Taiwan

Partenariats de fabrication collaborative en Asie

Les partenariats de fabrication de Micron en Asie comprennent:

Pays	Partenaire de fabrication	Montant d'investissement
Taïwan	Tsmc	5,6 milliards de dollars
Singapour	Averte	3,2 milliards de dollars
Chine	Wuxi fab	2,8 milliards de dollars

Partenariats de la chaîne d'approvisionnement

Détails de partenariat des sociétés électroniques mondiales:

• Cisco Systems - Composants d'équipement de mise en réseau
• Samsung Electronics - Alimentation du module de mémoire
• Group Lenovo - Source des composants informatiques

Investissement total de partenariat à partir de 2024: 11,6 milliards de dollars

Micron Technology, Inc. (MU) - Modèle d'entreprise: activités clés

Mémoire avancée de la mémoire et des puces de stockage semi-conductrices

Au cours de l'exercice 2023, Micron a investi 4,6 milliards de dollars dans la recherche et le développement. La société produit plus de 200 millions de puces de mémoire et de stockage par an sur plusieurs nœuds technologiques.

Catégorie de conception	Volume de production annuel	Nœuds technologiques
Croustilles dram	120 millions d'unités	10 nm, 7nm
Mémoire Flash Nand	85 millions d'unités	176 couches, 232 couches

Recherche et développement de technologies de mémoire de pointe

Micron maintient plusieurs centres de R&D mondiaux avec environ 6 500 chercheurs et ingénieurs dévoués.

• Emplacements de la R&D aux États-Unis, à Singapour, Israël et en Chine
• Portefeuille de brevets dépassant 48 000 brevets actifs
• Les dépenses annuelles de la R&D représentent 17 à 20% des revenus totaux

Fabrication de semi-conducteurs à grande échelle

Installations de fabrication situées dans plusieurs régions mondiales avec une capacité de production totale de 1,5 million de plaquettes par an.

Emplacement de fabrication	Production annuelle de plaquette	Focus du produit primaire
Virginie, États-Unis	350 000 gaufrettes	DRACHME
Singapour	450 000 gaufrettes	Nand, mémoire avancée
Taïwan	250 000 gaufrettes	Mémoire de spécialité

Innovation continue des produits dans les technologies DRAM et NAND

Micron développe systématiquement les technologies de mémoire de nouvelle génération en mettant l'accent sur les performances et l'efficacité.

• Développé la technologie NAND 232 couches en 2022
• Introduit des solutions de mémoire DDR5 pour les marchés d'entreprise et de consommation
• A investi 15 milliards de dollars dans des capacités de fabrication avancées entre 2021-2023

Micron Technology, Inc. (MU) - Modèle d'entreprise: Ressources clés

Installations avancées de fabrication de semi-conducteurs

Micron exploite plusieurs installations de fabrication de semi-conducteurs dans le monde:

Installations de fabrication totale	8 emplacements
Emplacements de fabrication principaux	États-Unis, Singapour, Taïwan, Japon
Capacité de fabrication totale	1,5 million de plaquettes par an (2023)
Dépenses en capital dans les installations (2023)	9,4 milliards de dollars

Portfolio de propriété intellectuelle étendue

Les actifs de la propriété intellectuelle de Micron comprennent:

• Total des brevets détenus: 48 000+ (à partir de 2023)
• Investissement annuel de R&D: 3,8 milliards de dollars
• Familles de brevets: plus de 5 000 familles de brevets actives

Équipes d'ingénierie et de recherche hautement qualifiées

Total des employés	48,000+ (2023)
Employés de R&D	Environ 6 500
Titulaires de diplômes avancés	35% de la main-d'œuvre technique

Investissement en capital important dans les infrastructures de fabrication

Investissements financiers dans les infrastructures et la technologie:

• Actif total: 55,4 milliards de dollars (Q4 2023)
• Propriété, usine et équipement: 39,2 milliards de dollars
• Propriété nette, usine et équipement: 33,6 milliards de dollars

Capacités de recherche technologique avancées

Nœuds technologiques	1α (1-alpha), 1β (1-bêta), 3
Partenaires de collaboration de recherche	15+ universités et institutions de recherche
Investissement technologique annuel	3,8 milliards de dollars

Micron Technology, Inc. (MU) - Modèle d'entreprise: propositions de valeur

Solutions de mémoire et de stockage haute performance

Micron Technology propose des solutions avancées de mémoire et de stockage avec les spécifications clés suivantes:

Catégorie de produits	Métriques de performance	Part de marché
DRACHME	Taux de transfert de données jusqu'à 24 Gbit / s	22,4% de part de marché mondiale
NAND FLASH	Technologie NAND 3D 232 couches	15,6% de part de marché mondiale
SSD	Vitesses de lecture jusqu'à 7 000 Mo / s	12,3% de pénétration du marché

Innovations technologiques de pointe dans la conception de semi-conducteurs

Les innovations technologiques de Micron comprennent:

• Processus de fabrication NAND 3D 232 couches
• Solutions de mémoire à large bande passante (HBM)
• Technologies avancées d'emballage semi-conducteur

Investissement de recherche et développement: 4,9 milliards de dollars au cours de l'exercice 2023

Produits de mémoire fiables et économes en énergie

Métriques d'efficacité du produit	Performance
Consommation d'énergie	20% inférieur à la génération précédente
Cote de fiabilité	99,99% du temps moyen entre les échecs
Plage de température de fonctionnement	-40 ° C à 85 ° C

Solutions de mémoire évolutives pour divers marchés technologiques

Couverture du segment de marché:

• Centre de données: 35% des revenus totaux
• Informatique client: 28% du total des revenus
• Électronique automobile: 12% des revenus totaux
• Industriel et réseautage: 15% des revenus totaux
• Appareils mobiles: 10% des revenus totaux

Revenus totaux pour l'exercice 2023: 21,4 milliards de dollars

Micron Technology, Inc. (MU) - Modèle d'entreprise: relations clients

Assistance technique et service client

Micron fournit un support technique mondial sur plusieurs canaux:

Canal de support	Heures disponibles	Temps de réponse
Support téléphonique	24/7	Dans les 2 heures
Assistance par e-mail	24/7	Dans les 4 heures
Base de connaissances en ligne	Continu	Immédiat

Partenariats technologiques d'entreprise à long terme

Micron maintient des partenariats stratégiques avec les principales sociétés technologiques:

• Dell Technologies
• HP Inc.
• Groupe Lenovo
• Services Web Amazon
• Microsoft Azure

Développement de produits collaboratifs avec les clients clés

Segment de clientèle	Type de collaboration	Investissement annuel
Fournisseurs de cloud hyperscale	Solutions de mémoire personnalisées	450 millions de dollars
Informatique d'entreprise	Conceptions de stockage spécialisées	275 millions de dollars
Électronique automobile	Intégration de mémoire avancée	180 millions de dollars

Consultation technique en cours et support d'intégration

Micron propose des services de consultation technique complets avec des équipes de support dédiées:

• Consultants techniques mondiaux: 350 ingénieurs spécialisés
• Centres de soutien régionaux: 7 emplacements mondiaux
• Engagement moyen des clients: 18-24 mois par projet
• Budget de soutien à l'intégration: 125 millions de dollars par an

Micron Technology, Inc. (MU) - Modèle d'entreprise: canaux

Ventes directes aux fabricants de technologies

Micron Technology génère 33,05 milliards de dollars de revenus annuels (2023 exercice). Les ventes directes vers les fabricants de technologies représentent environ 65% du total des revenus du canal.

Segment de clientèle	Volume des ventes	Pourcentage de revenus
Fabricants de centres de données	42% des ventes directes	27,3% des revenus totaux
Fabricants PC / ordinateur portable	38% des ventes directes	24,7% des revenus totaux
Fabricants d'appareils mobiles	20% des ventes directes	13% des revenus totaux

Catalogues de produits en ligne et documentation technique

Micron maintient des plateformes numériques complètes avec plus de 2 500 spécifications techniques de produits et des ressources de documentation.

• Pages de catalogue numérique: 1 247 listes de produits uniques
• Téléchargements de documents techniques: 3,2 millions par an
• Trafic de site Web: 1,8 million de visiteurs uniques par mois

Conférences technologiques et salons commerciaux de l'industrie

Micron participe à 37 principales conférences de technologie mondiales par an, représentant 12% de leur stratégie d'engagement client.

Type de conférence	Participation annuelle	Interactions estimées du client
Conférences technologiques mondiales	22 conférences	45 000 interactions directes
Expositions de technologie régionale	15 expositions	28 000 interactions directes

Équipes de gestion des comptes stratégiques

Micron emploie 412 gestionnaires de comptes stratégiques dédiés au service des clients de la technologie de haut niveau.

• Valeur du compte moyen: 87,3 millions de dollars par compte stratégique
• Couverture du compte mondial: 68 pays
• Taux de rétention de la clientèle: 94,6%

Plateformes de marketing numérique et de communication technique

Micron exploite plusieurs canaux de communication numérique pour engager les clients technologiques.

Plate-forme numérique	Engagement mensuel	Volume de contenu
Liendin	275 000 abonnés	87 postes techniques mensuels
Canal technique YouTube	142 000 abonnés	24 vidéos techniques trimestrielles
Webinaires techniques	12 000 participants moyens	18 webinaires chaque année

Micron Technology, Inc. (MU) - Modèle d'entreprise: segments de clientèle

Marchés du centre de données d'entreprise

Micron dessert les clients du centre de données d'entreprise avec des solutions spécifiques de mémoire et de stockage.

Segment de marché	Contribution des revenus	Produits clés
Informatique haute performance	2,8 milliards de dollars (2023)	Mémoire de serveur DDR5
SSD d'entreprise	1,6 milliard de dollars (2023)	X100 NVME SSD

Fabricants d'électronique grand public

Micron fournit des composants de mémoire aux marques mondiales d'électronique grand public.

• Samsung Electronics: 15% de l'alimentation des composants mémoire
• Apple Inc.: 12% de l'alimentation des composants mémoire
• Groupe Lenovo: 8% de l'alimentation des composants mémoire

Fabricants de technologies automobiles

Micron fournit des solutions de mémoire automobile spécialisées.

Segment automobile	Part de marché	Revenus annuels
Systèmes avancés d'assistance à la conduite	22%	740 millions de dollars (2023)
Solutions de mémoire automobile	18%	620 millions de dollars (2023)

Fournisseurs de cloud computing

Micron fournit des solutions mémoire aux grandes sociétés d'infrastructure cloud.

• Services Web Amazon: 20% de l'offre de mémoire cloud
• Microsoft Azure: 17% de l'offre de mémoire cloud
• Google Cloud: 15% de l'offre de mémoire cloud

Computement personnel et fabricants d'appareils mobiles

Micron fournit des composants de mémoire pour l'informatique personnelle et les appareils mobiles.

Catégorie d'appareil	Revenus de mémoire	Pénétration du marché
Smartphones	3,2 milliards de dollars (2023)	25% Global Supply
Ordinateurs portables	2,5 milliards de dollars (2023)	30% d'approvisionnement mondial

Micron Technology, Inc. (MU) - Modèle d'entreprise: Structure des coûts

Dépenses en capital élevés pour la fabrication de semi-conducteurs

Au cours de l'exercice 2023, Micron Technology a déclaré des dépenses en capital totales de 13,1 milliards de dollars. La fabrication de semi-conducteurs de la société nécessite des investissements substantiels dans des installations et équipements de fabrication avancés.

Catégorie de dépenses en capital	Montant (milliards de dollars)
Infrastructure de fabrication	8.7
Équipement avancé	3.6
Mises à niveau des installations	0.8

Investissements de recherche et développement importants

Micron a alloué 2,9 milliards de dollars aux frais de recherche et de développement au cours de l'exercice 2023, ce qui représente 16,5% des revenus totaux.

• Développement de la technologie de la mémoire
• Conception avancée de semi-conducteurs
• Solutions de stockage de nouvelle génération

Opérations complexes de fabrication mondiale et de chaîne d'approvisionnement

Installations de fabrication situées dans plusieurs pays avec des coûts opérationnels couvrant:

Emplacement	Coûts opérationnels (millions de dollars)
États-Unis	1,450
Singapour	870
Taïwan	620
Japon	340

Maintenance avancée des infrastructures technologiques

Coûts de maintenance des infrastructures technologiques annuelles estimés à 425 millions de dollars, notamment:

• Entretien fabuleux des semi-conducteurs
• Mises à niveau des systèmes informatiques
• Infrastructure de cybersécurité

Frais d'acquisition et de rétention de talents

Les dépenses totales des ressources humaines et des talents en 2023 ont atteint 1,2 milliard de dollars, avec:

Catégorie de dépenses	Montant (million de dollars)
Salaires et compensation	890
Recrutement	120
Formation et développement	190

Micron Technology, Inc. (MU) - Modèle commercial: Strots de revenus

Ventes de puces de mémoire aux fabricants de technologies

Exercice 2023 Revenu total: 21,1 milliards de dollars

Catégorie de produits	Contribution des revenus
Croustilles dram	12,4 milliards de dollars
Puces nand	6,7 milliards de dollars
Solutions de mémoire spécialisées	2,0 milliards de dollars

Revenus de produits de stockage DRAM et NAND

• Part de marché DRAM: 22,3%
• Part de marché NAND: 15,7%
• Prix ​​de vente moyen (ASP) pour DRAM: 3,85 $ par gigabit
• Prix ​​de vente moyen (ASP) pour NAND: 0,095 $ par gigabit

Licence de propriété intellectuelle semi-conducteurs

Revenus de licence annuelle: 85 millions de dollars

Contrats de développement de solutions de mémoire personnalisés

Type de contrat	Revenus annuels
Solutions personnalisées d'entreprise	450 millions de dollars
Conceptions de mémoire automobile	220 millions de dollars

Ventes du marché des technologies de l'entreprise et des consommateurs

• Revenus de mémoire du serveur d'entreprise: 5,6 milliards de dollars
• Revenus de mémoire de PC à la consommation: 3,2 milliards de dollars
• Revenus de mémoire de l'appareil mobile: 2,9 milliards de dollars

Micron Technology, Inc. (MU) - Canvas Business Model: Value Propositions

You're looking at the core reasons why strategic customers choose Micron Technology, Inc. over competitors, especially as the AI buildout demands higher performance and guaranteed supply. Here's the data-driven breakdown of what Micron is delivering as of late 2025.

Industry-leading HBM3e for AI accelerators and high-performance computing

Micron Technology, Inc. is delivering memory solutions built specifically for the intense demands of generative AI and supercomputing platforms. The HBM3e product line offers tangible performance gains over previous generations.

HBM3E Specification	Value
Bandwidth per Placement (Industry-leading)	More than 1.2 TB/s
Power Consumption Improvement (vs. Competitors)	30% lower
Capacity (8-High Stack)	24GB
Capacity (12-High Stack)	36GB

The demand for this technology is clear: Micron Technology, Inc. confirmed its entire High Bandwidth Memory (HBM) supply for calendar year 2025 is sold out. In Fiscal Q4 2025, HBM revenue alone climbed to nearly $2 billion, suggesting an annualized run rate approaching $8 billion.

High-capacity, energy-efficient memory for hyperscale data centers

The focus on data centers is central to Micron Technology, Inc.'s current success. This segment drove the company to a record fiscal year.

• Data center business accounted for a record 56% of total company revenue in fiscal 2025.
• The Cloud Memory Business Unit (CMBU) generated $4.543 billion in Q4 2025 revenue.
• CMBU achieved a gross margin of 59% and an operating margin of 48% in Q4 2025.
• The combined revenue from HBM, high-capacity DIMMs, and LP server DRAM reached $10 billion for fiscal 2025.

This segment's performance contributed to a fiscal 2025 total revenue of $37.38 billion.

Supply chain resilience as the only U.S.-based memory manufacturer

Micron Technology, Inc.'s position as the only U.S.-based memory manufacturer is a key value driver, especially amid geopolitical considerations. The company is making massive capital commitments to onshore critical production.

The company spent $13.88 billion in capital expenditures in fiscal 2025. Furthermore, the Boise advanced-memory fab received a $6.1 billion award to bring high-bandwidth memory production onshore. Overall, Micron Technology, Inc. plans to invest more than $150 billion globally in semiconductor manufacturing.

Broad portfolio of high-performance DRAM, NAND, and NOR products

While AI memory is the immediate growth engine, the value proposition rests on a full spectrum of memory and storage solutions. In Q4 2025, DRAM revenue alone was $7.1 billion, making up 76% of the quarter's total revenue.

The strategic shift is evident in the product mix. Micron Technology, Inc. announced it will shutter its Crucial consumer brand by February 2026 to reallocate capacity to enterprise segments. This move prioritizes higher-margin products over consumer markets that generate thinner margins.

Guaranteed supply via multiyear, long-term contracts for strategic customers

The pivot to enterprise focus means securing supply for hyperscale cloud providers through long-term agreements. This contrasts with the volatile pricing in consumer markets.

The tight supply environment is expected to sustain pricing power. Some DRAM prices have climbed between 20-70% since September 2025, driven by these forward contracts and restricted supply. The company expects a healthy demand-supply environment for overall DRAM in 2026, which supports profitability.

Micron Technology, Inc. (MU) - Canvas Business Model: Customer Relationships

You're looking at how Micron Technology, Inc. manages its most important client relationships as of late 2025. The strategy is clearly weighted toward the highest-value, fastest-growing segments, which means a very direct, high-touch approach for a select group of buyers.

Dedicated direct sales and technical support for large OEMs and hyperscalers

Micron Technology, Inc. has made a decisive pivot, evidenced by the exit from its Crucial consumer memory business, which will cease retail sales by February 2026 after a 29-year run. This move directly frees up capacity to support larger, strategic customers. The focus is squarely on enterprise and data center clients, where the Cloud Memory Business Unit (CMBU) revenue reached $4.5 billion and represented 40% of total company revenue in a recent quarter. In fiscal year 2025, the data center end market accounted for 56% of total company revenue. Honestly, when over 50% of your total revenue comes from your top ten customers, the relationship is inherently direct and high-touch.

Strategic, long-term supply agreements to secure high-value products

The nature of the relationship is solidified through long-term commitments, especially for High Bandwidth Memory (HBM) products. Supply agreements for HBM3E and HBM4 have been completed through 2026. This is a clear indicator of securing future revenue streams. To be fair, the demand from tech giants like Microsoft, Google, and ByteDance was so strong in October 2025 that they reportedly asked Micron for 'indefinite orders,' indicating intent to take as much volume as Micron could deliver regardless of price. The HBM business itself posted strong growth, with Q4 2025 revenue nearing $2 billion, suggesting an annualized run rate near $8 billion.

Here's a quick look at the revenue concentration and product mix shift:

Metric	Value (FY 2025 or latest reported)	Context
Total Revenue Growth (YoY)	49%	Total revenue for 2025 rose to a record $37.38 billion.
Data Center Revenue Share	56%	The primary focus segment, with gross margins of 52% in fiscal 2025.
Top Ten Customer Revenue Share	Over 50%	Indicates significant customer concentration and reliance on key partnerships.
HBM Revenue (Q4 2025)	Nearly $2 billion	Implies an annualized run rate of nearly $8 billion for this high-value product.

Co-engineering and early access programs for next-gen technology

Micron Technology, Inc. is deeply embedded in the design cycles of its largest customers, which is the definition of co-engineering in this space. For instance, the Small Outline Compression Attached Memory Module (SOCAMM) was developed in close collaboration with NVIDIA to enhance the GB300 Grace Blackwell Ultra Superchip. Micron is the only memory provider shipping both HBM3E and SOCAMM products. Furthermore, Micron is a major supplier of 12H HBM3E memory for AMD's MI350 chip, which boasts 288GB of high-bandwidth memory. The company is also preparing for the future, with plans to sample HBM4 next year.

The relationships are built on enabling the next wave of AI hardware:

• SOCAMM solution is in volume production for the NVIDIA GB300 platform.
• HBM3E solutions offer 30% lower power compared to competition.
• Micron is leading node transitions, showcasing 1-gamma DRAM technology.
• They are working on HBM4 development, with mass production planned for the future.

High-touch, consultative model for enterprise and data center clients

The shift away from the consumer market means that every interaction with enterprise and data center clients is strategic and consultative, focused on complex, high-value products like HBM and advanced SSDs. The company's overall profitability improvement to a consolidated gross margin of 40% in 2025 from 22% in 2024 is directly tied to this mix shift toward these high-value segments. This consultative approach is necessary because these products, like the 12H HBM3E or advanced data center SSDs, require tight co-design with the chip makers.

Providing defintely reliable product quality and long-term warranty support

Even while aggressively reallocating capacity, Micron Technology, Inc. is maintaining its commitment to existing customers on legacy products. The company explicitly stated it will continue warranty services and support for existing Crucial consumer products even as it winds down retail sales through February 2026. This ensures that the transition does not immediately damage the trust built over 29 years with the channel, even as the strategic focus shifts entirely to enterprise-grade memory and storage sold through commercial channels.

Micron Technology, Inc. (MU) - Canvas Business Model: Channels

You're looking at how Micron Technology, Inc. moves its memory and storage products to market as of late 2025. The strategy has clearly pivoted, driven by massive AI infrastructure buildouts.

Direct sales force to Hyperscale Cloud Providers (primary channel)

This is the core focus now. The Data Center segment showed exceptional strength, reporting 400% year-over-year growth in fiscal Q1 2025. This segment now represents over 50% of Micron Technology, Inc.'s total revenue. Furthermore, the Cloud Memory Business Unit reached record revenues, making up 40% of total sales in a recent quarter. High-Bandwidth Memory (HBM) revenue was nearly $2 billion in the August quarter (Q4 Fiscal 2025), which implies an annualized run rate of nearly $8 billion based on CEO Sanjay Mehrotra's comments in September 2025. This channel is prioritized to support larger, strategic customers driving AI demand.

Direct sales to major OEMs (e.g., Dell, HPE, Cisco)

While the search results emphasize the Data Center segment's dominance, the overall strength in enterprise and server demand supports direct engagement with major Original Equipment Manufacturers (OEMs). The company's focus on high-performance DRAM and advanced storage technologies directly serves the needs of these large system builders who are deploying AI-centric infrastructure.

Commercial channel for Micron-branded enterprise products

Micron Technology, Inc. explicitly continues to support the sale of its Micron-branded enterprise products to commercial channel customers globally. This channel handles sales outside the direct hyperscaler relationship, serving enterprise and other commercial buyers with their memory and storage needs. Low-End DRAM (DDR4/LP4) exposure, which is less strategic, represented about 10% of total company revenue for the remainder of Fiscal Year 2025.

Winding down the Crucial brand retail/e-tail distribution channel

Micron Technology, Inc. announced on December 3, 2025, that it is exiting the Crucial consumer business. This means ending the sale of Crucial consumer-branded products at key retailers, e-tailers, and distributors worldwide. Shipments through this consumer channel will continue until the end of fiscal Q2 2026, which ends in February 2026. This move is to reallocate manufacturing capacity toward higher-margin enterprise and hyperscale customers. The Crucial brand had a 29-year presence in the consumer market.

Technology Enablement Program (TEP) for hardware/software vendors

The Technology Enablement Program (TEP) offers ecosystem partners a path to gain early access to technical insights. This program is specifically designed for both hardware and software vendors to align their development with Micron Technology, Inc.'s latest offerings.

Here's a quick look at the channel focus shift based on recent data:

Channel Focus Area	Key Metric/Status (Late 2025)	Data Source Context
Hyperscale Cloud Providers	Represents over 50% of total revenue	Data Center Segment Revenue Share (FY2025)
Cloud Memory Business Unit	Reached 40% of total sales	Recent Quarter Revenue Share
HBM Revenue (Implied Direct/Enterprise)	Nearly $2 billion in August quarter (Q4 FY2025)	Q4 FY2025 Performance
Crucial Consumer Retail	Shipments ending by February 2026	Exit Announcement Date December 3, 2025
Total Fiscal 2025 Revenue	$37.38 billion	Full Year 2025 Highlight

The company's total Fiscal 2025 revenue reached $37.38 billion. The TEP provides design tools and technical documentation, including power calculators and simulation models, to partners.

• TEP provides early access to technical insights.
• TEP supports both hardware and software vendors.
• Micron DDR5 offers up to 2X the effective bandwidth compared to DDR4.

Finance: draft 13-week cash view by Friday.

Micron Technology, Inc. (MU) - Canvas Business Model: Customer Segments

You're looking at the core of Micron Technology, Inc.'s revenue engine as of late 2025. The customer base has clearly tilted heavily toward high-performance computing needs, which is where the big money is right now.

Data Center/Hyperscale Cloud Providers is the anchor, representing a massive 56% of fiscal 2025 revenue. This segment is driving demand for the most advanced memory, especially High Bandwidth Memory (HBM). We estimate HBM revenue alone was around 15% of total fiscal 2025 revenue, while premium products, which include HBM and select DRAM and NAND, accounted for roughly 35% of the total. The overall fiscal 2025 revenue for Micron Technology, Inc. hit a record $37.38 billion.

The business unit reporting gives us a clearer, albeit Q4 2025 snapshot, of how these customer types break down:

Business Unit / Customer Focus	Q4 2025 Revenue (Millions USD)	Q4 2025 Gross Margin (%)
Cloud Memory Business Unit (CMBU)	$4,543	59%
Core Data Center Business Unit (CDBU)	$1,577	41%
Mobile and Client Business Unit (MCBU)	$3,760	36%
Automotive and Embedded Business Unit (AEBU)	$1,434	31%

The MCBU, which covers Mobile Device OEMs and Client PC and Consumer Electronics OEMs, pulled in $3.76 billion in Q4 2025, with a gross margin of 36%. This unit saw sequential growth driven by higher DRAM shipments and improved pricing.

The Automotive and Industrial Control Systems manufacturers are served by the AEBU. This unit posted Q4 2025 revenue of $1.434 billion and achieved a gross margin of 31%, showing sequential improvement from higher pricing.

When looking at the product level for the full fiscal year 2025, DRAM Products were the clear leader, generating $28.58 Billion, which is 77.07% of total revenue. NAND Products generated $8.50 Billion, or 22.93% of the total.

Here are the key customer-facing drivers Micron Technology, Inc. is focused on:

• Data Center/Hyperscale Cloud Providers: 56% of FY2025 revenue.
• HBM Revenue (FY2025 estimate): Approximately 15% of total revenue.
• Mobile and Client Business Unit (MCBU) Q4 2025 Revenue: $3.76 billion.
• Automotive and Embedded Business Unit (AEBU) Q4 2025 Revenue: $1.434 billion.
• CMBU Q4 2025 Gross Margin: 59%.

The combined revenue from HBM, high-capacity DIMMs, and LP server DRAM reached $10 billion in fiscal 2025, which is more than a five-fold increase. Finance: draft 13-week cash view by Friday.

Micron Technology, Inc. (MU) - Canvas Business Model: Cost Structure

When you look at Micron Technology, Inc.'s cost structure, you're looking at a business defined by massive, necessary upfront investment to stay ahead in memory technology. This isn't a low-overhead operation; it's a capital-intensive game of process leadership.

High Capital Intensity Driven by CapEx

The sheer scale of capital expenditure (CapEx) is the most immediate cost driver. For the fiscal year ending in August 2025, Micron invested a staggering $13.80 billion in capital expenditures. This level of spending is what keeps the company at the leading edge, funding the construction of new fabs and the purchase of highly specialized equipment.

To put that in perspective against the year's performance, the fiscal 2025 CapEx represented a significant portion of the record $37.4 billion in revenue achieved that year. Management has signaled this intensity will continue, expecting fiscal 2026 CapEx to be higher than the 2025 levels, primarily directed at DRAM front-end equipment and fab construction to support the 1$\gamma$ node migration and HBM growth.

The cost structure is heavily weighted toward these long-term assets, which is typical for a leading semiconductor manufacturer. Here is a look at the scale of investment:

Metric	Amount (FY2025)	Context
Total Capital Expenditures	$13.80 billion	Investment in future capacity and technology.
Q4 2025 Capital Expenditures	$4.93 billion	Represents a single quarter's spend.
Annual Operating Expenses (12 months ending Aug 2025)	$27.608 billion	Total operating costs before CapEx.

Significant R&D Costs for Advanced Node Migration

Staying competitive means pouring resources into Research and Development (R&D) to transition to the next process node, which is where the real cost of innovation lives. The focus is heavily on the 1$\gamma$ DRAM node and High Bandwidth Memory (HBM). These R&D efforts are essential because the 1$\gamma$ technology, for instance, offers more than 30% greater bit density per wafer compared to the prior 1$\beta$ node and greater than 20% lower power consumption.

These R&D expenses are baked into the operating expenses, but the underlying investment is clear:

• R&D supports the ramp of 1$\gamma$ DRAM, which began shipping samples in early 2025.
• Significant funds are dedicated to HBM development, including next-gen HBM4 targeting 2026 volume production.
• The overall investment plan includes a commitment of $50 billion for R&D globally over the next decade.

The sequential increase in operating expenses for Q1 FY2026 is explicitly tied to R&D related to data center product innovation and development.

Cost of Goods Sold (COGS) Drivers

The COGS is dominated by the costs associated with wafer fabrication and the subsequent assembly and test processes. While a direct COGS breakdown isn't provided, the cost efficiency improvements across the product lines show where the manufacturing team is focusing its cost-saving efforts:

• Fiscal 2025 DRAM front-end cost reductions (excluding HBM) were expected in the mid- to high-single-digits percentage range.
• Fiscal 2025 NAND front-end cost reductions were projected in the low-teens percentage range.
• The Compute and Networking Business Unit (CMBU), which includes HBM, saw its gross margin hit 57% in Q4 FY25, showing that high-value product mix significantly impacts the overall cost structure effectiveness.

The entire manufacturing flow, from wafer fabrication to final test, is a complex, multi-step process requiring immense control over materials and environment.

Operating Expenses Projection

Looking ahead to the start of fiscal 2026, the projected operating expenses (OpEx) give you a clear view of near-term overhead. For the first quarter of fiscal 2026, Micron projected non-GAAP operating expenses to be around $1.34 billion, plus or minus $20 million. This quarterly figure is the baseline for SG&A (Selling, General, and Administrative) and R&D before factoring in the impact of the 53-week fiscal year in 2026, which will add an extra week of costs compared to the 52-week fiscal 2025.

Manufacturing Costs Tied to Global Fab Operations

The global footprint itself is a major cost component, heavily subsidized but still requiring massive internal investment. These costs cover utilities, maintenance, and labor across facilities in the US, Japan, and Singapore. The company is actively managing these costs through government partnerships:

• Micron finalized an agreement for up to $6.1 billion under the CHIPS and Science Act to support advanced DRAM fabs in Idaho and New York.
• Plans to expand manufacturing in Singapore include an investment for a new HBM advanced packaging facility.
• The 1$\gamma$ DRAM process technology in Japan involves spending about 500 billion yen (roughly $3.6 billion) over the next few years.

These government incentives help offset the fact that U.S. memory manufacturing costs historically run 35-45% higher than in lower-cost markets.

Micron Technology, Inc. (MU) - Canvas Business Model: Revenue Streams

You're looking at the money-making engine for Micron Technology, Inc. as of late 2025, focusing on where the record $37.38 billion in full-year revenue actually came from. The streams are heavily weighted toward high-performance computing, which is a big shift from just a few years ago.

The core of the revenue generation still rests on two primary product families, DRAM and NAND, but the mix is dramatically different now, reflecting the AI buildout.

Here's the quick math on the primary product sales for fiscal year 2025:

Revenue Stream Component	FY2025 Reported Amount	Percentage of Total Revenue (as per outline)
Sales of DRAM products	$28.6 billion	76%
Sales of NAND products	$8.50 billion	N/A

The DRAM segment is clearly the dominant revenue driver, making up a massive 76% of the total haul. Still, the value within that DRAM is what's really moving the needle on profitability.

The real story in 2025 is the explosive growth in high-value, AI-centric memory products. These are the premium components that command better pricing and drive margin expansion across the board.

• High-Value AI Products (HBM, high-capacity DIMMs) revenue of $10 billion in FY2025.
• This $10 billion figure represents a five-fold increase compared to the same period last year.
• The Cloud Memory Business Unit (CMBU) delivered record Q4 revenue of $4.54 billion.

Because these advanced products are so critical for AI training and inference, they bring in significantly better returns. To be fair, this product mix shift is why the overall Data Center business segment gross margins hit 52% in FY2025. That margin is a huge indicator of the revenue quality.

Beyond selling physical chips, Micron Technology, Inc. also generates income from intangible assets, though this is a smaller component of the overall revenue picture.

• Licensing of intellectual property and technology.

While the specific dollar amount for licensing isn't explicitly called out as a primary revenue stream in the same way as DRAM/NAND, the financial statements do reflect activity, such as recorded patent license charges in prior periods, indicating this stream is part of the operational structure.

The performance of the most profitable segment underscores the revenue strategy:

Business Segment	FY2025 Data Center Gross Margin	Q4 2025 CMBU Gross Margin
Data Center Business Segment	52%	59%

Finance: draft 13-week cash view by Friday.