By Heekyong Yang, Hyunjoo Jin and Danilo Masoni

Seoul — Global chip stocks surged on Thursday after Micron Technology’s blockbuster results reignited the AI-driven rally, lifting tech shares from Seoul to Frankfurt as investors grew more confident about persistent demand and tightening supply.

Micron, a key supplier for Nvidia’s AI chipsets alongside South Korean chipmakers, forecast quarterly profit and revenue well above expectations on Wednesday and said its customers had committed $22bn to lock in supplies of memory chips.

The effect was immediate in Europe, where Dutch chip-equipment maker ASML, the region’s most valuable company, rose more than 4% following two days of heavy…