New Delhi, June 25 -- Micron Technology shares surged in Thursday's trade after the memory-chip maker delivered strong fiscal third-quarter results and issued a robust outlook. The performance offered fresh signs that AI-led investments are generating healthy returns, helping ease valuation concerns.

The company's shares were last up 17% at $1,255, giving it a market capitalisation of $1.398 trillion. Micron's valuation has now surpassed Meta Platforms' market capitalisation of $1.392 trillion, while Tesla's market value stood at around $1.4 trillion.

Micron's fourth-quarter revenue and profit forecasts on Wednesday helped shares reverse a recent slump, with the company disclosing its customers had committed $22 billion to lock in suppl...