Micron overtakes Meta, Tesla in market value amid relentless AI infrastructure demand
Key takeaways
- The company's shares were last up 18.4% at $1,236, giving it a market capitalization of $1.398 trillion, compared with Meta's $1.392 trillion.
- Micron's fourth-quarter revenue and profit forecasts on Wednesday helped shares reverse a recent slump, with the company disclosing its customers had committed $22 billion to lock in supplies of memory chips.
- (Reporting by Purvi Agarwal in Bengaluru; Editing by Sriraj Kalluvila)
Micron overtakes Meta, Tesla in market value amid relentless AI infrastructure demand Reuters Thu, June 25, 2026 at 8:40 PM GMT+7 1 min read MU TSLA META 005930.KS June 25 (Reuters) - Micron Technology edged past the market valuation of Meta Platforms and briefly Tesla's for the first time on Thursday, after the memory chipmaker's solid forecast helped extend its AI-driven ascent.
The company's shares were last up 18.4% at $1,236, giving it a market capitalization of $1.398 trillion, compared with Meta's $1.392 trillion. Tesla had a market value stood of $1.4 trillion.
Micron's fourth-quarter revenue and profit forecasts on Wednesday helped shares reverse a recent slump, with the company disclosing its customers had committed $22 billion to lock in supplies of memory chips.