US stoks | Micron surges 19%, overtakes Meta in market value amid relentless AI infrastructure demand
Memory chip giant Micron Technology has surpassed Meta Platforms in market valuation for the first time, driven by a robust AI-fueled surge. Strong fourth-quarter revenue and profit projections, coupled with $22 billion in customer commitments for...
By Reuters | Updated:
Micron Technology edged past the market valuation of Meta Platforms for the first time on Thursday, after the memory chipmaker's solid forecast helped extend its AI-driven ascent.
The company's shares were last up 18.5% at $1,244.4, giving it a market capitalization of $1.393 trillion, compared with Meta's $1.391 trillion.
Micron's fourth-quarter revenue and profit forecasts on Wednesday helped shares reverse a recent slump, with the company disclosing its customers had committed $22 billion to lock in supplies of memory chips.
The company's shares were last up 18.5% at $1,244.4, giving it a market capitalization of $1.393 trillion, compared with Meta's $1.391 trillion.
Micron's fourth-quarter revenue and profit forecasts on Wednesday helped shares reverse a recent slump, with the company disclosing its customers had committed $22 billion to lock in supplies of memory chips.
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