US Stock Market: AI chip rally reignites as Micron, Qualcomm forecasts add over $400 billion in market value

Chip stocks surged on Wednesday, adding over $400 billion in market value, fueled by optimistic forecasts from Micron Technology and Qualcomm. Micron's strong outlook for memory chips and Qualcomm's ambitious data center growth targets reignited investor confidence in the AI trade. This positive sentiment boosted rivals and equipment suppliers, signaling a robust demand for AI-driven hardware and infrastructure.