Micron Technology has reported record quarterly revenue, powered by booming demand for memory chips used in artificial intelligence data centres.

The US chipmaker said sales of high-bandwidth memory — the specialised chips that power AI accelerators — continued to grow strongly as cloud providers expand their AI infrastructure.

AI-driven demand has transformed the memory market, which was in a downturn just two years ago. Prices and volumes have both recovered sharply.

The company also raised its forward guidance, signalling confidence that AI infrastructure spending will stay strong.

Micron's results are the latest sign that the AI hardware boom is broadening beyond NVIDIA, with memory, storage and networking suppliers all reporting strong orders.

The memory industry is notoriously cyclical, but executives say AI demand looks more durable than past booms tied to PCs and phones. Data centre operators are signing long-term supply deals to lock in memory for future AI clusters.