Micron Surges on $10B AI Research Facility and Credit Upgrade

Micron Technology's stock surged nearly 4% on Thursday to $974.33 after the company announced a $10 billion AI-focused memory research facility in Boise, Idaho.

The project received backing from Apple's Tim Cook and Nvidia's Jensen Huang, with Huang highlighting that reimagining memory architecture is one of the most formidable technical obstacles in the AI revolution.

S&P Global upgraded Micron's credit rating to BBB+, citing increased conviction in AI-fueled memory semiconductor consumption through 2028.

BMO Capital launched research coverage on Thursday, issuing a Buy recommendation and setting a $1,300 price objective, which it sees as an extended memory industry upcycle.