US stoks | Micron surges 19%, overtakes Meta in market value amid relentless AI infrastructure demand
Micron Technology edged past the market valuation of Meta Platforms for the first time on Thursday, after the memory chipmaker’s solid forecast helped extend its AI-driven ascent.
The company’s shares were last up 18.5% at $1,244.4, giving it a market capitalization of $1.393 trillion, compared with Meta’s $1.391 trillion.
Micron’s fourth-quarter revenue and profit forecasts on Wednesday helped shares reverse a recent slump, with the company disclosing its customers had committed $22 billion to lock in supplies of memory chips.
