Investing.com -- Micron Technology reached a market value of $1 trillion for the first time on Tuesday, marking a milestone for the largest U.S. memory chipmaker amid the artificial intelligence boom.

Shares of the company rose 18% to $886.6 during trading.

The achievement represents a significant moment for Micron as it joins an exclusive group of companies that have crossed the trillion-dollar threshold. The memory chip manufacturer has been one of the biggest beneficiaries of the "AI boom."