On August 14, Micron Technology rose 3.02% in pre-market trading, trading at approximately $978/share, with turnover of $2.35 billion.
On the news front, Micron announced the launch of the Micron Ventures Paradigm Fund, a $250 million investment vehicle focused on next-generation artificial intelligence. This brings the company's total venture fund commitments to $550 million, signaling deepening strategic commitment to the AI ecosystem.
The move also comes amid continued strength in the storage sector. In the prior trading session, SanDisk surged nearly 14% on strong earnings guidance, triggering broad sector resonance. Micron itself closed up 4.23% with $34.6 billion in turnover that day. SK Hynix followed with a 7% gain. The rally reflects sustained AI-driven demand for memory chips, with UBS maintaining a Buy rating and $1,625 target price, citing HBM supply-demand tightness exceeding prior expectations. JP Morgan's Q2 filing revealed Micron as its top buy among new positions.
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