Micron nears Tesla valuation as AI memory demand surges

Micron is closing in on Tesla’s market valuation as AI memory demand lifts the company’s stock, according to the report. On June 25, Micron briefly overtook Tesla and surpassed Meta Platforms in market value after a strong forecast from the memory-chip maker. Shares rose 18.4% to $1,236, valuing Micron at $1.398 trillion versus Meta’s $1.392 trillion, while Tesla was cited at about $1.4 trillion. The gains followed Micron’s June 24 forecast for fourth-quarter revenue and profit, which reversed a recent decline in its shares. The company also said customers have committed $22 billion to secure supplies of its memory chips. Micron reached the $1 trillion market-value milestone on May 26, joining Samsung Electronics in the club as investors look for companies positioned to benefit from Big Tech’s AI infrastructure spending plans.