All suppliers
Modeled AI capex flow
$11.1B
from Big 5 forward AI-attributable spend
Hyperscaler exposure
45.0%
of revenue (latest 10-K)
Top hyperscaler customer
AMZN
modeled $3.2B flow
HBM capacity sold-through
—
Q2 FY26 earnings
Forward visibility: HBM capacity sold-through
The leading indicator AM analysts read as capex commitments convert to supplier revenue.
MU doesn't disclose contractual backlog. Management commentary: HBM 'sold out' through calendar 2026; pricing locked. Forward indicator is HBM3E/HBM4 mix and yield.
As of: Q2 FY26 earningsSource filing
Flow attribution by hyperscaler
Modeled dollars from each hyperscaler's AI-attributable forward capex.
| Customer | Modeled flow | % of total |
|---|---|---|
| Amazon (AMZN) | $3.2B | 28.5% |
| Microsoft (MSFT) | $2.6B | 23.3% |
| Meta Platforms (META) | $2.3B | 20.3% |
| Alphabet (GOOGL) | $2.2B | 19.4% |
| Oracle (ORCL) | $0.9B | 8.5% |
Computed from disclosed customer concentration and per-hyperscaler accelerator preferences. Per-edge values can be reconstructed from the Methodology page.
Notes & source
HBM sold out through 2026; pricing power tied to NVDA/AMD GPU shipments. Disclosed >10% customer (likely NVDA).
View SEC filings page