New Delhi, Dec. 19 -- A wave of optimism swept through the technology sector on Thursday as chipmaker Micron Technology delivered stronger-than-expected quarterly results, providing a much-needed "glimmer of hope" for artificial intelligence (AI) investors following weeks of lackluster performance.

Micron emerged as the S&P 500's top performer for the day, with shares surging more than 10%. The company significantly outperformed quarterly earnings estimates, a feat executives attributed to a massive supply shortage and booming demand from data centers for high-bandwidth memory chips.

During the earnings call, the company leadership revealed that Micron is effectively sold out of its HBM chips through 2026, signaling that the hunger for ...