European shares gain as upbeat Micron forecast revives AI rally

European shares rose with the pan-European STOXX 600 index up 0.27 percent at 636.88 points, led by a revival in the AI rally after US chipmakers Micron and Qualcomm posted strong forecasts. European tech stocks climbed 1.7 percent, with chipmakers Infineon and STMicroelectronics gaining 5.2 percent and 3.7 percent respectively, while BE Semiconductor and ASML rose more than 3.5 percent each. Declining oil prices further supported sentiment, though H&M shares fell 1.2 percent after weak quarterly results.