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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Flapping Airplanes announced a $1 billion Series A on October 21, co-led by Index Ventures and Lux Capital, at what Bloomberg reported was a $6 billion valuation. According to Bloomberg and press reports, that is about four times its January seed valuation. Nvidia is among its investors.
Tractian announced a $130 million Series D led by Sapphire Ventures and co-led by M&G's Catalyst, valuing the Physical AI company at $1.4 billion. The funding will scale its sensor-based platform for monitoring the health of industrial machinery across manufacturing, data centers, utilities and defense.
The US Treasury published a proposed rule on October 22, 2026 to implement the COINS Act, widening limits on US investment in sensitive tech in countries of concern. Separately, DHS ordered DeepSeek products excluded and removed from federal civilian agency systems. The Treasury rule is not final; comments are due December 7.
SK hynix reported record third-quarter operating profit of 83.33 trillion won, more than seven times the year-earlier level, on AI memory demand. The company said its roughly 100 trillion won 2026 shareholder-return total includes a 40 trillion won buyback announced in August, and approved a 14 trillion won dividend and a 20 trillion won buyback.
Microsoft on Monday announced a new Voluntary Exit Offer for eligible employees in participating teams in the US, Canada, India and the UK at level 70 and below. Chief People Officer Amy Coleman's memo says it "builds on what we learned" from April's Voluntary Retirement Program. About 60,000 people, roughly a quarter of its 223,000 staff, are eligible, the company told GeekWire. A person familiar told CNBC that employees decide in December and leave Dec. 31. Some groups, including sales, aren't participating, and Microsoft says the offer doesn't replace layoffs.
