Shares of Micron Technology (MU) rose Monday afternoon following the company's announcement that it will increase production of its HBM3E (High Bandwidth Memory 3E) chips. These chips will be used in Nvidia's (NVDA) semiconductors designed for artificial intelligence capabilities. Micron expects to begin shipments of these high-performance memory chips in the second quarter of 2024. Yahoo Finance's Julie Hyman and Josh Lipton break down the details of this trending ticker. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
(Bloomberg) -- This earnings season has underlined that the big technology trade is here to stay, alleviating investor concerns that AI euphoria would falter after driving 2023’s market rally. Most Read from BloombergA Spike in Heart Disease Deaths Since Covid Is Puzzling ScientistsBYD’s New $233,450 EV Supercar to Rival Ferrari, LamborghiniFreddie Mercury’s London Residence Lists at £30 MillionShein Considers London IPO After US Resistance to ListingThe Magnificent Seven group of tech firms — w
Nvidia's success is leading to fierce competition to supply it with advanced memory chips between Micron, SK Hynix and Samsung.