Micron Technology’s market value surged past that of Meta Platforms and ahead of Tesla on Thursday, as investors responded positively to the company’s latest outlook and growing exposure to the artificial intelligence sector. The memory chipmaker’s shares skyrocketed 18.4% to $1,236, lifting its market capitalisation to $1.398 trillion, placing it aboveMeta, which was valued at $1.392 trillion, while Tesla stood at $1.4 trillion.

Micron's revenue has surged by over four times, reaching $41.46 billion in its fiscal third quarter, driven by the booming AI sector and a global memory crunch. The company's…

Chip stocks surged on Wednesday, adding over $400 billion in market value, fueled by optimistic forecasts from Micron Technology and Qualcomm. Micron's strong outlook for memory…