Micron (MU) Stock Rises 4% After $10 Billion AI Research Lab Announcement
TLDR
- Micron stock rose 4%, closing at $974.33 on Thursday, lifted by its $10 billion AI memory research lab announcement in Boise, Idaho.
- Apple CEO Tim Cook and Nvidia CEO Jensen Huang publicly praised the announcement, adding momentum to the rally.
- S&P Global upgraded Micron’s credit rating to BBB+, citing rising confidence in AI-driven memory demand through 2028.
- BMO Capital initiated coverage with a Buy rating and $1,300 price target, calling Micron a play on a “long memory supercycle.”
- SK hynix’s $28.6 billion buyback plan also boosted the broader memory sector, giving Micron an added tailwind.
Micron Technology (MU) closed up 3.97% at $974.33 on Thursday, hitting an intraday high of $977.28. Volume came in at around 24.8 million, well below its average session volume.
The main driver was Micron’s announcement of a new AI memory research center in Boise, Idaho, called Micron Research Labs. The company plans to invest $10 billion into the facility over the next decade.
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