Micron has emerged as one of the most valuable U.S. tech companies thanks to insatiable demand for memory that's needed in AI chips.
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Micron’s
historic rally continued on Tuesday, with shares of the memory maker surging 12%, lifting the company’s market cap past $700 billion for the first time.
The stock is now up 125% this year and 700% in the past 12 months, pushing Micron into the top 10 most valuable U.S. tech companies.
Demand for memory has surged as the artificial intelligence boom has created insatiable demand that’s led to a global shortage. Chipmakers like Nvidia
As generative AI models get more sophisticated, companies need more memory and faster memory, Micron CEO Sanjay Mehrotra said in…
"We need more and more memory to address that demand," Micron CEO Sanjay Mehrotra told CNBC's Jim Cramer.
Micron said it expects the total addressable market for high-bandwidth memory to hit $100 billion by 2028.
Micron's stock has soared this year while its tech peers have struggled, as the impact of rising memory costs ripples across the…
Shares of Micron have skyrocketed 370% over the past year, while Sandisk is up more than 1100%.
Micron Technology shares caught fire this week amid a global shortage of memory chips. The stock is heading for its best week…
