Micron falls as Samsung and SK Hynix secure OpenAI supply contract

SoftBank

01/10/2025 11:42

** Shares of chip maker Micron Technology MU.O fall 1.8% to $164.27 in premarket trading

** This comes as AI memory chip competitors Samsung 005930.KS and SK Hynix 000660.KS signed letters of intent to supply memory chips to OpenAI's Stargate project

** U.S. President Donald Trump announced the $500 billion Stargate project in January, charging OpenAI and partners including SoftBank 9434.T and Oracle ORCL.N with ensuring the U.S. remains a leader in artificial intelligence

** Up to last close, stock had risen 98.8% YTD

 (Reporting by Kritika Lamba in Bengaluru)

 ((Kritika.Lamba@thomsonreuters.com))