Tech stocks surge as Micron earnings ease AI fears, oil falls further - Yahoo Finance

On June 25, 2026, global tech stocks surged following strong earnings and forecasts from chipmakers Micron and Qualcomm, easing concerns over stretched valuations in AI-related companies. Micron annou... Read original →

Micron and Qualcomm’s results signal a pivotal shift: AI infrastructure is evolving beyond training chips toward integrated memory and heterogeneous compute. Micron’s $22B memory commitments underscore HBM and CXL’s role in reshaping data center architectures, directly straining TSMC’s CoWoS capacity and pressuring Samsung to accelerate GDDR7. U.S. export controls have inflated global supply chain redundancy costs by 15–20%, yet Micron’s India-Japan manufacturing diversification mitigates geopolitical exposure. NVIDIA, unable to replicate its training dominance in inference, will likely open more of its software stack to lock in customers. Over the next 18 months, AI capex will pivot from GPU-centric spending to a triad of compute, memory, and interconnect—making bandwidth bottlenecks the new constraint on model scaling, favoring firms with 3D stacking and near-memory computing capabilities.