Micron Technology has surpassed Meta Platforms in market valuation for the first time, driven by a strong AI-fueled rally. The memory chip giant's robust fourth-quarter forecasts, including $22 billion in customer commitments for memory chip supplies, have reversed a recent downturn. This surge positions Micron at the forefront of the AI revolution, signaling significant investor confidence in its future growth.

Micron stock is trading in record high territory as the memory-chip maker benefits from huge demand from AI data centers.

Micron said demand for AI memory chips is higher than supply and is likely to stay that way for years.