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Top stories today:
- Micron tops $1T market value as AI memory chip demand surges
- Fireworks AI seeks funding at $15B valuation co-led by Index Ventures
- Prediction markets need exclusive CFTC oversight, Trump says
- Baseten seeks $1B at $11B valuation as ARR hits ~$600M
- Suno seeks $250M+ funding at ~$5B valuation led by Bond Capital
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations):
1. Micron tops $1T market value for first time as AI memory chip demand surges
Micron Technology stock +19% Tue. after UBS raised its price target to $1,625/share from $535.
UBS cited long-term agreements with partially fixed pricing as a key driver.
Strong AI demand for Micronās memory chips has fueled the rally.
Intel, Qualcomm, AMD, and Marvell Technology also gained.
SK Hynix also entered the $1T market cap club after +13% in its stock
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3. Fireworks AI said to seek funding at $15B valuation co-led by Index Ventures
AI inference is the startupās core focus, a fast-growing market fueled by the AI boom.
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