Micron Surges 19% to Record High, Market Cap Tops $1 Trillion
MU•Micron Technology shares surged 19% to close at $895.88 on May 26 after jumping 23% intraday, briefly lifting market capitalization above $1 trillion and extending gains toward $920 in overnight trading. Rally driven by accelerating AI memory demand, UBS's aggressive price target upgrade and a new $2B Virginia DRAM plant.
1. Record-High Surge and Market Cap Milestone
Micron shares jumped nearly 23% intraday on May 26, closing 19% higher at $895.88 and briefly pushing market capitalization above $1 trillion. In overnight trading, momentum carried shares toward $920 as investors responded to the breakout.
2. AI Memory Demand Driving Growth
Increasing AI model training and inference workloads have intensified demand for advanced DRAM and high-bandwidth memory, tightening industry supply and boosting pricing power for leading producers like Micron.
3. New Virginia Facility and Future Outlook
The new $2 billion Manassas, Virginia facility has begun full-scale 1-alpha DRAM production, reinforcing Micron's capacity under a $200 billion investment plan and supporting diverse industries from data centers to aerospace.
