Micron Shares Rise on Tight AI Chip Supply

Micron Technology Inc. shares have seen a significant rally, attributed by portfolio manager Daniel Pilling to the intense demand for artificial intelligence chips exceeding current supply levels. Pilling, speaking on "Bloomberg Tech," indicated that this imbalance is the primary driver behind the stock's upward momentum. The situation underscores the critical role of semiconductor manufacturers in powering the burgeoning AI sector and the challenges in meeting escalating global demand.