Micron Technology Surpasses Meta in Market Valuation

Micron Technology surpassed the market valuation of Meta Platforms after issuing a strong forecast, propelled by its AI-driven growth. The company's shares surged, giving it a market value of $1.393 trillion, slightly ahead of Meta's $1.391 trillion. Micron's outlook reversed a prior slump, with customers committing $22 billion for memory chips.

Micron Technology has overtaken Meta Platforms in market valuation for the first time, driven by a robust forecast and AI-driven momentum.

The memory chipmaker's shares rose by 18.5% to reach $1,244.4, resulting in a market capitalization of $1.393 trillion, just eclipsing Meta's $1.391 trillion.

Micron's positive fourth-quarter revenue and profit projections were revealed on Wednesday, aiding the reversal of a previous slump as the company secured $22 billion in commitments for its memory chip supplies.