US memory chip giant Micron in Idaho recently shone brightly on Wall Street. Driven by shortages of memory chips triggered by AI data center construction, Micron's market capitalization briefly surpassed that of Meta and Tesla on Thursday, closing at approximately $1.27 trillion on Friday, roughly level with both companies. Over the past month, Micron's stock price surged more than 236%, settling at $1,132 per share on Friday. Prior to mid-2025, its shares had long hovered below $100. In last quarter, Micron delivered impressive results: revenue rose year-over-year to $41.45 billion, while profit skyrocketed from $1.88 billion to $28.2 billion—a nearly fifteen-fold increase compared to the same period last year. The company forecasts fourth-quarter revenue will reach between $49 billion and $51 billion. This growth stems from surging demand for high-bandwidth memory (HBM), DRAM, and NAND chips driven by AI servers. Tech giants including NVIDIA, Microsoft, Amazon, Google, and Meta have aggressively purchased memory chips, creating supply tightness dubbed "RAMageddon" by industry observers—an expected shortage projected to persist until 2027. Micron has signed sixteen long-term supply agreements, including partnerships with NVIDIA and Anthropic, aiming to escape the cyclical traps typical of traditional memory manufacturers. Wall Street remains highly optimistic; William Blair analysts reaffirmed an "outperform" rating, noting that Micron's earnings growth appears likely to be more sustainable.