Micron Technology shares jumped 18.4% to $1,236, propelling the memory chipmaker’s market capitalization to $1.398 trillion.
The surge allowed Micron to briefly surpass both Meta Platforms and Tesla in total valuation, marking a significant shift in the hierarchy of US tech giants.
The rally was driven by reports of a multibillion-dollar expansion of manufacturing capacity in the United States, signaling continued aggressive investment in domestic semiconductor production.
The move underscores the broader resurgence of investor confidence in the artificial intelligence sector.
Global semiconductor equities surged on Thursday, fueled by robust financial results from key US manufacturers and renewed optimism around AI infrastructure demand.
Micron’s performance stands out as a bellwether for the memory market, which is critical for high-performance computing and data center applications.