Micron topped a $1 trillion market value for the first time on Tuesday as shares surged 19% on AI-driven demand for memory chips. The milestone highlights how explosive AI growth is lifting a new group of chipmakers beyond Nvidia's early dominance.
Micron is among a fresh crop of chipmakers benefiting from the next stage of the AI race.
Explosive demand for AI has led to a global memory shortage that chipmakers like Micron are struggling to fill.
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DTCC has completed its first live production trades of tokenized stocks, ETFs and U.S. Treasurys with more than two dozen major institutions. The milestone advances its planned tokenization service launch in October and shows blockchain integration into core Wall Street infrastructure while preserving traditional legal rights.
Inflation cooled sharply in June while Morgan Stanley delivered record earnings and IBM suffered its worst trading day on record. Markets reacted positively to the inflation data and bank results but remain on edge over potential oil-price spikes from Middle East conflict.
Stripe and Advent International have reportedly jointly offered $53 billion to acquire PayPal at $60.50 per share, representing a 28% premium with about $50 billion in committed financing. The approach underscores both firms' deepening involvement in stablecoins while PayPal contends with competitive pressures.
