Micron enters trillion-dollar club AI competition to drive memory chip craze

On Tuesday, May 26, Micron Technology (MU.O)'s market value exceeded the US$1 trillion mark for the first time. The company experienced a rapid rise, consolidating its status as the largest memory chip maker in the United States in the AI boom. One of the winners. Micron's share price rose 18% at one point to $886.6, a record high. Previously, UBS sharply raised its price target from $535 to $1,625, the highest price target given by the 46 brokerages tracking the company, according to LSEG data. This milestone not only highlights the centrality of memory chips in AI infrastructure, but also reflects a broader shift in AI investment: After initially flocking to graphics processor makers, investors are looking for companies that can benefit from the technology giant's huge spending plans. South Korea's Samsung Electronics, the world's largest memory chip manufacturer, has exceeded US$1 trillion in market value, and SK Hynix is also approaching this level.