US chipmaker Micron reaches $1 trillion market capitalization for the first time
US chipmaker Micron Technology briefly crossed a market value of $1 trillion on May 26 as investor excitement around AI continued to drive demand for memory chips. According to a report by news agency Reuters, the sharp rally made Micron one of the biggest winners of the AI boom, with its shares rising more than 17% during trading. Micron’s stock jumped after brokerage UBS raised its price target on the company to $1,625 from $535, the report said. The company’s shares rose as much as 19.3% during the session before easing slightly later.
As cited in the Reuters report, analysts say the surge reflects growing demand for advanced memory chips used in AI data centers and cloud infrastructure.
