Micron Technology Shares Surge to Unprecedented Heights on AI Demand

Micron US5951121038

Shares of Micron Technology Inc. soared to a record high during Monday’s trading session, marking a significant milestone for the memory chip manufacturer. The stock advanced by nearly 6 percent, closing at approximately $440 per share. This rally is fueled by a bullish analyst report and the seemingly insatiable demand for hardware to power artificial intelligence applications.

The company is capitalizing on rising prices for its DRAM chips, a direct result of the explosive expansion in AI. This growth necessitates increasingly powerful data centers, which in turn require vast amounts of high-performance memory.