Micron's AI-powered chip boom reshapes semiconductor power landscape

Micron Technology's shares surged more than 10% on Thursday to an all-time high of $156.26, thanks to strong demand for its memory and storage solutions, especially from data center customers handling artificial intelligence workloads. The company announced that high-bandwidth memory (HBM) revenue in the third quarter increased by nearly 50% month-on-month, and data center revenue more than doubled year-on-year. Citi reiterated its buy rating and raised its target price to $175, citing Micron's advantage in the U.S. manufacturing and gained support from the U.S. government under the Chips Act.