(Bloomberg) — Investors looking for new ways to bet on artificial intelligence infrastructure have been piling into an old but often overlooked name: Micron Technology Inc.
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The maker of memory chips, which reports earnings after market close on Wednesday, has seen its shares roughly double since the S&P 500 bottomed in April, and is the index’s fifth-best performer over that span. Spending on AI computing gear has sent investors hunting for beneficiaries beyond marquee stocks like Nvidia Corp.
Micron’s growth is being fueled by high-bandwidth memory — bundles of dynamic random access memory chips closely connected to processors from Nvidia — which is vital to AI computing. That’s…
