Memory chipmaker Micron Technology's stock has fallen over 30% from its late June high, following news of competitors SK Hynix partnering with Nvidia and Samsung Electronics collaborating with Broadcom. Despite these developments and Micron reportedly failing Nvidia's specification requirements for its Vera Rubin architecture, analysis suggests Micron is not being squeezed out. Nvidia CEO Jensen Huang confirmed Micron remains indispensable to its AI hardware, and Micron has diversified its client base to include companies like Meta Platforms, Advanced Micro Devices, and Tesla, securing many with five-year agreements. The company also reported strong financials for Q3 FY2026, with revenue totaling $41 billion (up 346% year-over-year) and profit reaching $28 billion.