Nikolay Nikolov, writing for ITNEXT, explores the significant benefits of using the `yield` keyword in PHP for memory optimization. His piece underscores the efficiency `yield` brings to handling large datasets and long-running operations by enabling on-the-fly data generation, which contrasts with traditional array-based iterations that can bloat memory usage. By providing a practical example with the Fibonacci sequence, Nikolov demonstrates how `yield` can reduce a program's memory footprint, making it an invaluable tool for developers aiming to enhance the performance of PHP applications.