Micron Technology (MU.O) edged past the market valuation of Meta Platforms (META.O) 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 18.5 per cent at $1,244.4, giving it a market capitalisation of $1.393 trillion, compared with Meta's $1.391 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.