Meet Micron, the under-the-radar chipmaker that just reported a 346% sales surge and helped stop a global AI selloff

Micron may not be a household name but it may just be among the most important tech companies in the AI era, and definitely one with a surprising backstory. Recommended Video On Thursday, the memory chipmaker reported an eye-popping 346% surge in quarterly revenue. As if that wasn’t enough, it reported a profit of $28.2 billion for the quarter, almost 15 times higher than the same quarter last year. By all accounts, the company blew past analyst expectations, sending its stock soaring almost 16% in after-hours trading. The rally continued into Thursday evening, with Micron’s shares closing up 15% at $1,213 per share.

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