Micron Technology forecast fourth-quarter revenue above Wall Street estimates on Wednesday on robust demand for its high-bandwidth memory (HBM) chips used in artificial intelligence data centers. The memory chip maker reported a nearly 50% jump in third-quarter sales of its HBM chips from the previous three months,

Micron has been aided by the struggles of its biggest rival in the memory chip business, Samsung Electronics Co. Ltd., which has not yet been able to mass-produce HBM chips, resulting in demand for the chips outstripping supply.

Micron Technology Inc., Wall Street’s favorite chipmaker this year, gave an upbeat forecast for the current quarter, helped by demand for artificial intelligence equipment.