The rise of cheap, open-source Chinese AI models was supposed to be a threat to the companies that sell expensive memory chips.
Bank of America thinks it is the opposite.
In a note published Monday, BofA analyst Vivek Arya reiterated its Buy rating on Micron Technology Inc. (NASDAQ:MU) with a $1,550 price objective, arguing that the flood of open-weight models pouring out of China expands the market for memory rather than shrinking it.
That target implies roughly 66% upside from Micron’s price near $931 on Tuesday.
The call lands the same week Moonshot AI released Kimi K3, a 2.8-trillion-parameter system BofA calls the largest open-weight model ever built.
