The company's shares, which have gained about 12% this year, were up nearly 14% after the bell. Micron is one of the only three providers of high-bandwidth memory (HBM) chips along with South Korea's SK Hynix and Samsung,

Micron Technology Inc., the largest US maker of computer memory chips, gained the most in nearly 13 years after giving surprisingly strong sales and profit forecasts, helped by demand for artificial intelligence gear.

Micron Technology‘s stock surged by 14% in after-hours trading following an optimistic first-quarter forecast driven by strong demand for memory chips used in artificial intelligence (AI) computing. The company projects revenue of approximately $8.

Wall Street's main indexes rose in choppy trading on Thursday, with the S&P 500 hitting an intraday record high after Micron's upbeat forecast rekindled the hype around artificial intelligence, and a soft jobless claims report soothed worries about the labor market.