EU fines Temu $232 million as Micron hits $1 trillion valuation
MU•The EU fined Temu $232 million for failing to curb illegal product sales under the Digital Services Act. Micron’s shares rose more than 18%, lifting its market value past $1 trillion for the first time.
1. Temu Fined $232 Million
EU tech regulators imposed a $232 million penalty on Temu for failing to prevent the sale of illegal products, citing non-compliance with the Digital Services Act’s requirements for large online platforms. Temu has expressed respect for the Act’s objectives while disputing the Commission’s decision.
2. Micron Tops $1 Trillion Market Value
Micron Technology’s stock jumped over 18% in a single session, reaching a record high that pushed its market capitalization above $1 trillion for the first time. The rally reflects robust investor confidence in Micron’s memory chip portfolio, driven by surging AI and data centre demand.
