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Micron
stock rose 6% Friday as investors looked to buy AI chip supply chain stocks after Taiwan Semiconductor Manufacturing Company reported robust earnings on Thursday, signaling continued AI infrastructure spending.
Shares of Micron, one of the makers of memory and storage for artificial intelligence systems, are up 52% over the last month, as memory is in a worldwide shortage and seeing a surge of demand. Memory is used in AI systems to keep large amounts of data close to the graphics processing unit, or GPU, so it can run large AI models without slowing down.
″AI driven-demand is accelerating,” Micron CEO Sanjay Mehrotra told CNBC’s Jim Cramer. “It is real. It is here, and we need more and more memory to address that demand.”
