Micron's stock is dropping. Is Google partly to blame?
Micron's stock dropped 3.4% on Wednesday due to concerns over Google's new algorithm that reduces memory usage in AI models. The algorithm, called TurboQuant, may decrease demand for memory and impact Micron's business.
Micron's stock fell 3.4% on Wednesday. Google introduced an algorithm that reduces memory usage in AI models. The algorithm, TurboQuant, improves speed and efficiency. Memory and storage makers have benefited from component shortages, but Google's announcement may change this. Shares of other storage makers, such as Seagate and Western Digital, also fell. The impact of TurboQuant on Micron's business is unclear.
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