Micron Technology Inc. is resuming a stock buyback program that it had suspended nearly two years ago during an industry downturn. Shares gained on the news.
The largest US maker of computer memory chips sells a vital component of artificial intelligence hardware — high-bandwidth memory — that works with processors from Nvidia Corp. to crunch data. While its earnings forecast last month failed to impress investors, the company has been hailed as one of the biggest potential beneficiaries of the generative AI boom.
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