$MU · Micron up 250% but still trades at only 9x forward PE despite AI memory demand

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extracted intelligence

Joe Lonsdale

Why AI is Bigger Than the Industrial Revolution

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Micron up 250% but still trades at only 9x forward PE despite AI memory demand

2026-07-09 · 7 company · 8 thematic

sentiment

5 bull2 bear0 neu

speakers

joe ben bevirt

JoeBen Bevirt founded Joby Aviation and has led it for over a decade through design, FAA certification, and into manufacturing scale-up. He previously founded Velocity11 and other robotics companies. He is driving the electric aviation transition with hydrogen propulsion, autonomy, and vertical integration.

scott

Co-founder of Cognition, an AI coding agent company. Former founder hired by Joe Lonsdale in a previous venture. Leads a team of 20+ Olympiad gold medalists building autonomous software engineering agents.

joe lonsdale

Joe Lonsdale hosts American Optimists. He co-founded Palantir Technologies and founded venture firm 8VC. He previously hired Scott Wu at an early company and references his experience building Palantir's forward-deployed engineer model and government technology partnerships.

jack

Partner at 8VC. Leads the public markets discussion, citing Micron's valuation metrics and historical industrial revolution capex comparisons to argue AI is not in a bubble.

quote

“Micron, which is obviously a key participator in the AI wave so far. It produces high bandwidth memory. The stock is up 250% over the last 12 months and it was a nine times P forward multiple stock 12 months ago and it's still a nine times…”

—jack

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