Micron (MU) Crosses $1 Trillion Valuation on Nvidia AI Collaboration

Micron Technology (MU) reached a $1 trillion market capitalization on June 2, 2026, capping a tenfold stock surge over the past year as a strategic push from Nvidia propelled the memory-chip maker into the heart of the artificial intelligence boom. Nvidia CEO Jensen Huang said he aligned roadmaps with Micron CEO Sanjay Mehrotra three years ago, pushing the company into high-bandwidth memory (HBM) chips co-designed for Nvidia's AI platforms. Micron now expects the HBM market to reach $100 billion by 2028. It posted a $14 billion profit in its latest quarter, a turnaround from a $5.8 billion loss in 2023. The Idaho-based firm, once known for frugal, commodity-focused operations, secured its first five-year supply agreement earlier this year, signaling long-term AI demand. Analysts say the shift brings higher margins but caution that Micron's traditional discipline will face a test when the next cycle turns.