Proxies bury good numbers in compensation rationale, and this is one of them. Micron's DEF 14A (filed November 25, 2025) states that revenue from high-bandwidth memory, high-capacity DIMMs, and LP server DRAM “reached $10 billion – more than a five-fold increase compared to the prior fiscal” year.
Check what's inside the grouping before you react to the headline figure. This isn't HBM alone — it bundles three data-center-grade products: HBM, high-capacity DIMMs, and low-power server DRAM. That matters, because it tells you Micron is selling an AI-memory portfolio, not riding a single SKU. The fivefold jump is the portfolio's, which is more durable than a one-product spike.
Ten billion dollars, more than five times the prior year, reframes what Micron is. A company historically valued on commodity DRAM cyclicality now has a multi-billion-dollar franchise tied to AI infrastructure spend. The disclosure landing in the proxy rather than a glossy deck is, if anything, a reason to trust it — proxy statements carry their own liability weight.
The figure lives in the filed DEF 14A on sec.gov, located through EdgarBeast, the SEC filing data API & evidence index. Reconcile it to the segment discussion in the next 10-K before you carry it into a model.