Micron fuels chip stock rally as AI demand powers revenue forecast
By Arsheeya Bajwa (Reuters) – Micron Technology surged 15% on Thursday in premarket trading, leading a rally in chip stocks after its strong revenue forecast signaled robust demand for semiconductors used to power generative AI technology. The company, whose high-bandwidth memory chips (HBM) are used in Nvidia’s popular artificial intelligence processors, was set to add…