Micron Rises, AstraZeneca Dives, Meta Falls on Report AI Chip Heading to Production On this episode of Stock Movers:

On this episode of Stock Movers:
-Micron (MU) shares rise. Micron Technology Inc. plans to increase its spending on new plants in the US to $250 billion to help meet demand for its memory chips. The company's spending is expected to carry through 2035 and help support its goal of producing 40% of its DRAM components in the US.
-AstraZeneca (AZN) shares drop. AstraZeneca Plc's shares dropped more than 10% after a trial of a new heart drug failed to help prevent heart problems in patients with a rare disease. The drug, a gene silencer developed with Ionis Pharmaceuticals Inc., didn't reduce cardiovascular events or deaths from heart problems in a late-stage trial.
-Meta (META) shares fall. Reuters reports that the Facebook parent plans to start manufacturing its AI chip in September, citing an internal memo from the company. Meta is working with Broadcom Corp. to design and TSMC to manufacture, and it has secured long term multi-year agreements with Samsung for memory chips, Sandisk for flash storage and Sumitomo Electric for fiber optic equipment.

See omnystudio.com/listener for privacy information.