Micron hits $1 trillion m-cap as AI fuels chip demand

The market capitalisation of Micron Technology, the largest US memory chipmaker, crossed $1 trillion as its shares surged around 18% to a record high on Tuesday. The rally came after brokerage UBS raised its price target on the stock to $1,625 from $535. Micron shares have jumped roughly 178% this year, driven by strong AI-fuelled demand for chips.