Micron opens a $250M AI venture fund

Micron launched the $250 million Micron Ventures Paradigm Fund, its third and largest vehicle, investing across model architecture, compute, enterprise applications, and physical AI. The fund brings Micron Ventures’ total capital commitment to $550 million, according to Micron’s fund announcement. The implication for builders is less about venture diversification than memory strategy: Micron is buying an earlier view of the workloads that could determine the next HBM, storage, and networking bottleneck; SK hynix’s new Indiana HBM plant shows why suppliers are already placing capacity bets around that future.