Micron Technology NASDAQ:MU climbed about 5% on Monday after investors responded to comments from SK Group Chairman Chey Tae-won, who said current memory chip pricing is unlikely to be sustainable over the longer term.
The remarks appeared to lift sentiment across the memory semiconductor sector as investors looked beyond recent weakness. Micron had been under pressure in recent sessions, briefly slipping below the $1 trillion market capitalization threshold before rebounding alongside rival memory-chip makers.
Chey said memory pricing is expected to normalize over time after a sharp run-up driven by artificial intelligence demand. His comments come as AI-related spending continues to support demand for high-bandwidth memory and other advanced chips used in data centers, although investors remain focused on whether current pricing levels can be maintained.
The rebound also followed a broader recovery in semiconductor stocks as investors rotated back into AI-related names. Micron remains one of the largest suppliers of memory chips used in AI servers, where demand has accelerated alongside increased spending by hyperscale cloud providers.