Micron zooms past $700 billion market cap as rally in memory stocks accelerates
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- Micron shares surged 11% Tuesday, lifting its market cap above $700 billion and placing the company among the top‑10 most valuable U.S. tech firms.
- Sandisk stock jumped 12% after the company began shipping Micron’s largest commercial SSD, which promises lower power consumption for data‑center racks.
- Nvidia is expanding its quantum‑AI tools—Ising‑model simulators and error‑correction software—adding pressure on memory suppliers like Micron.
- Sanjay Mehrotra said customers are receiving only 50‑66% of their required memory, underscoring the supply crunch fueling the rally.
- U.S. equities hit record highs as AI‑driven memory demand lifts tech stocks, with Micron’s surge contributing to the broader market rally.
Why it matters: Micron’s market cap now exceeds $700 billion, giving shareholders a massive gain, but the memory shortage forces chipmakers like Nvidia to pay higher prices, inflating AI‑hardware costs.
