Nvidia Rides Micron Earnings Wave as Board Member Cashes In
Nvidia shares gained 1.2% in premarket trading following Micron Technology's earnings beat, which highlighted sustained demand for high-bandwidth memory in AI data centers. The memory-chip maker's bullish outlook offset concerns about capital expenditure delays in the sector.
Atlas Cloud AI's $250 million deployment of 24,304 Blackwell GPUs underscores the accelerating infrastructure buildout for generative AI. Meanwhile, Nvidia board member Harvey Jones liquidated $44 million in shares acquired during the company's 1997 IPO, retaining over 7 million shares through a trust.
The semiconductor sector showed resilience after recent volatility, with analysts noting Micron's results as a stabilizing force for AI-exposed names including Oracle and Broadcom. Memory supply constraints are expected to persist through 2024.
