Micron Technology reaches $1 trillion market cap on AI chip demand surge
By
Mark Dee
If you only eat one bagel today, this is the bagel.
Summary
Micron Technology, Idaho's largest company, crossed the $1 trillion market capitalization mark for the first time, driven by surging demand for AI-powered memory chips. The Boise-based semiconductor manufacturer's stock jumped over 28%, reaching $955 per share, making it only the 16th company globally to achieve this valuation milestone. Wall Street analysts see further growth potential.
Key quotes
· 3 pulledMicron Technology, Idaho's largest company, entered rarefied air on Tuesday, crossing the $1 trillion valuation mark — and Wall Street analysts still see room to grow.
Driven by rabid demand for chips that power artificial intelligence, the Boise manufacturer's stock jumped more than 28% Tuesday into Wednesday, topping out at $955 per share.
The jump pushed Micron's market capitalization — the total value of its publicly traded stock — over $1 trillion for the first time, making it just the 16th company in the world to reach that milestone.
You might also wanna read
Nvidia Reaches $5 Trillion Market Valuation, Becoming First Company to Hit Milestone
Nvidia has become the world's first company to reach a $5 trillion market valuation, with shares rising to over $211. The chipmaker achieved
The Verge·7mo ago
Micron discontinues Crucial brand to focus on supplying memory for AI companies
Micron is shutting down its Crucial brand, which has been known for budget-friendly SSDs and RAM kits for PC builders and hobbyists. The com
theverge.com·5mo ago
Nvidia Reports 56% Sales Growth Fueled by Strong AI Chip Demand
Nvidia reported a 56% increase in sales, driven by strong demand for its AI chips, making it the world's most valuable public company. The c
nytimes.com·9mo ago
Microsoft Reaches $4 Trillion Market Valuation, Second After Nvidia
Microsoft has achieved a $4 trillion market valuation, becoming the second company to reach this milestone after Nvidia. This growth is attr
The Verge·10mo agoNvidia Becomes First Company to Reach $4T Market Cap
TSMC to Manufacture Advanced 3-Nanometer AI Chips in Japan
TSMC, the world's largest contract chipmaker, announced it will manufacture advanced 3-nanometer semiconductors in Japan to meet booming AI
apnews.com·3mo ago