Micron Is Down 30% From Its Peak. Welcome To The AI Intent Economy

Micron announced it will exit its Crucial consumer business after 29 years to shift supply toward larger strategic customers and faster-growing segments.

In October 2025, Samsung and SK Hynix signed letters of intent for a large volume of advanced DRAM for Stargate; these were not binding purchase contracts.

Memory stocks fell in reaction to the announced intent, with memory companies' shares moving to reflect anticipated demand.

Oracle and OpenAI dropped a planned 600-megawatt expansion near the Stargate site in Abilene, Texas.

Reuters reported that other Stargate buildouts elsewhere remain on track.