Tech Giants Soar to Fresh Highs Amid AI Buildout Optimism

Tech giants like Nvidia Corp. (NVDA), Micron Technology Inc. (MU), and Alphabet Inc. (GOOG) saw significant gains on Monday, reaching fresh 52-week highs amid optimism about artificial intelligence buildouts.

Nvidia stock soared to a record high of $216.82, surpassing a market capitalization of $5.3 trillion, after notching more than $68 billion in sales in its latest quarter, an increase of 73% year-over-year, fueled by surging data center revenue.

Micron Technology Inc. stock climbed to $531.36 on rising Wall Street optimism for AI-specific memory demand, with analyst Ben Reitzes saying the firm views memory companies as core to its AI coverage and believes the AI memory cycle may continue through the end of the decade.

Alphabet's Google hit $350.90 after the U.S. Department of War announced that it had added updated versions of Google's Gemini models to its AI platform, significantly reducing hallucinations, improving output quality, and accelerating productivity.