TradingKey – On September 17 ET, the day after the Federal Reserve announced a rate hike, Micron (MU) surged over 5%, with its stock price returning to $980.

Sanjay Mehrotra, CEO of Micron Technology, stated that the company’s semiconductor packaging and testing facility in Sanand, Gujarat, India, has commenced commercial production to meet the growing demand for memory chips driven by artificial intelligence (AI).

The Sanand facility processes advanced DRAM and NAND wafers from Micron Technology’s global manufacturing network into finished memory and storage products. In a statement, Micron Technology said the facility is expected to package and test tens of millions of chips in 2026, with capacity ramping up to hundreds of millions of…