Micron 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.