Micron Overtakes Meta in Market Value at $1.398 Trillion, Briefly Surpasses Tesla After 18.4% Surge

According to Reuters, Micron Technology edged past Meta Platforms in market valuation for the first time on Thursday and briefly surpassed Tesla as well, with shares surging 18.4% to $1,236 after the memory chipmaker issued a strong fourth-quarter revenue and profit forecast. The rally gave Micron a market capitalization of $1.398 trillion, compared with Meta's $1.392 trillion, while Tesla stood at $1.4 trillion. The forecast, released Wednesday, reversed a recent share-price slump after Micron disclosed that customers had committed $22 billion to secure supplies of its memory chips — a striking signal of demand visibility driven by Big Tech's mega AI infrastructure spending plans. Micron first crossed the $1 trillion market-value threshold on May 26, shortly after South Korea's Samsung Electronics also entered the trillion-dollar club, as memory chipmakers increasingly capture investor appetite for direct beneficiaries of the AI capex supercycle. The ascent underscores how the center of gravity in semiconductor investing is shifting toward memory and storage providers whose products are critical to AI data center buildouts.