Micron Technology forms new cloud storage business unit

Micron Technology announced that it is reorganizing its business units to focus on meeting the artificial intelligence (AI)-related needs of large cloud service providers for its storage chips. Micron's new "Cloud Storage Business Unit" will focus on providing products for hyperscale data centers, as well as high-bandwidth memory (HBM) chips that help quickly perform data-intensive AI tasks. HBM chips have been closely watched by investors for their synergy with AI GPUs, especially Nvidia GPUs.