Micron stock jumps nearly 19% on AI bets, overtakes Meta, Tesla briefly

Micron Technology shares jumped around 19 percent to $1,236, giving it a market capitalisation of $1.398 trillion, briefly overtaking Tesla and edging past Meta. The rally followed its solid fourth-quarter revenue and profit forecasts, with customers committing $22 billion to lock in memory chip supplies. The stock has surged as memory chipmakers benefit from Big Tech's massive AI spending plans.