AI‘s Insatiable Appetite for Memory: Software Snippets | Europe

研报英文原文证据摘录

AI‘s Insatiable Appetite for Memory: Software Snippets | Europe

Foundation

June 28, 2026 03:00 PM GMT

Morgan Stanley & Co. International plc+MSoftware Snippets | Europe George W Webb

Equity Analyst

AI's Insatiable Appetite for George.Webb@morganstanley.comMark Hyatt +44 20 7425-2686

Mark.Hyatt@morganstanley.com +44 20 7677-3663

Memory William Richards

Research Associate

William.Richards1@morganstanley.com +44 20 7425-0269

Important events in the world of Software & Services in the

Technology - Software & Services

week ahead, and key MS research / stories from the past week. Europe

Industry View In-Line

Key Takeaways

Micron blows past 3Q26 earnings expectations as agentic AI's demands rise

(#Software)

Informa: Intersecting Growth, Quality, and Value (*MS Research*, #Informa)

SAP CEO: "there is a chance that in 3-4 years there is actually no one developing

software inside SAP any more" (#Software, #SAP)

Springer Nature Tech Event - AI is driving process efficiencies in academic

publishing (*MS Research*, #RELX, #Informa, #Wolters Kluwer)

1) Micron blows past 3Q26 earnings expectations as agentic AI's demands rise

(#Software): US-listed memory and data storage company Micron (covered by Joe

Moore) posted record numbers mid-week, as strong AI demand and soaring memory

prices combined. Fiscal 3Q revenue was up nearly 350% y/y to $41 billion, from c.

$9bn a year ago. The obvious explanation is the build-out of AI data centers, but the

more interesting software read-through is what is changing inside the workloads

themselves. AI is moving from one-off prompts and chat responses toward more

agentic systems that plan, call tools, read documents, retain session history, spawn

sub-agents and iterate toward an outcome. These are the increasingly sophisticated,