Attention around artificial intelligence has driven chipmaker Nvidia sharply higher in recent years, to the point where it briefly was the world’s most valuable company — but AI investors are targeting other stocks, too.
The hype has drawn comparisons to the dot-com bubble of the late 1990s, when many internet start-ups saw massive, short-lived investment gains before crashing down. But this time, some analysts say, much of the AI interest has been concentrated on a much smaller number of established technology firms, and it is linked to significant corporate spending happening now.
Micron’s revenue increased to $6.81 billion in the third quarter of 2024, from $3.75 billion for the same period last year.
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