Micron, Musk, and Memory. A Big Prediction Is Lifting the Stock.

Micron Technology stock has more than tripled this year so far. (Photo by Justin Sullivan/Getty Images)

Key Points

Micron Technology shares rose following renewed artificial-intelligence optimism.
Elon Musk posted on X that robot memory needs will exceed everything else on Earth.
Micron previously forecast that physical AI, such as robo-taxis and humanoid robots, will drive memory demand by the end of the decade.

Micron Technology is on the rebound. The memory-chip company is gaining from renewed artificial-intelligence optimism and a major prediction about a robot-driven future from Elon Musk.

Micron shares were up 2.3% at $924.50 in premarket trading Tuesday. The stock hit lows of around $850 last week but Anthropic’s filing for an initial public offering looks to have calmed worries around the AI trade in general.

The immediate driver of Micron’s share price is forecast for demand for memory chips in AI servers. But there is another potential major engine for growth—robotics. One unsurprising enthusiast is Tesla and SpaceX CEO Musk.

“Robot RAM [random-access memory] needs will exceed everything else on Earth,” Musk wrote in a post on social-media platform X on Monday.

Of course, Musk is talking up his own business, as Tesla invests heavily in robots. But Micron has also previously forecast that “physical AI”—think robo-taxis and humanoid robots—will become a significant driver of demand by the end of the decade, which could prolong the current shortage of memory.

Even if the robot future doesn’t come to pass, the immediate outlook still looks bright for Micron so long as AI demand holds up. Musk said that the memory demands of “super intelligence”—his and President Donald Trump’s preferred term for AI—will vastly exceed that of robots but the computing power and associated memory hardware will be located in space.

Write to Adam Clark at adam.clark@barrons.com

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