Micron expects strong quarterly sales due to increased demand for AI products

American technology company Micron expects strong sales for the current quarter, driven by increased demand for its artificial intelligence products.

The company stated in a statement that its third-quarter earnings will reach approximately $8.8 billion, compared to a previous estimate of $8.55 billion. Excluding certain items, earnings per share are expected to reach $1.57, compared to a previous estimate of $1.48.

The company noted that its second-quarter sales rose 38% to $8.05 billion, compared to analysts’ expectations of $7.91 billion.

The company recorded increased demand for its components used in data center equipment that develops artificial intelligence software.