Micron (NASDAQ: MU) makes memory chips and storage for phones and computers. However, these chips can also be used for data centers and it is now one of the key players in the AI business. The stock is down 24% from its peak but analysts are eyeing a massive rebound here.

Artificial Intelligence (AI) companies are rapidly focusing on securing funding to propel R&D, roll out products and services across diverse sectors, and create interconnected ecosystems amid fierce

The Dow Jones Industrial Average was up 136 points, or 0.3%, as of 11:55 a.m. Eastern time. The Nasdaq composite was 1.5% higher.