Welcome to Markets Desk, let's get you caught up on the stories moving markets right now.
Micron Technology delivered a standout quarter, with revenue more than quadrupling as the artificial intelligence boom continues to drive explosive demand for memory chips. The memory maker's stock has surged roughly seven hundred percent over the past year, and this latest print confirms that AI infrastructure spending is still very much in expansion mode, not consolidation.
Staying in the AI space, Microsoft's GitHub just reported its best month on record, according to remarks made by an executive at an internal company meeting. Usage of its Copilot coding tool surged sharply after GitHub restructured its billing model, a meaningful signal that enterprise adoption of AI developer tools is accelerating, even as GitHub faces intensifying competition from fast-growing rivals.
Meanwhile, HUTCHMED reported that its pivotal Phase two registrational study of Fanregratinib met its primary endpoint in treating intrahepatic cholangiocarcinoma, a rare and difficult-to-treat bile duct cancer. For a commercial-stage biotech, hitting a registrational trial endpoint is a genuine inflection point, potentially clearing a path toward regulatory submission and a meaningful new revenue stream.
That's the tape. Markets Desk, signing off the floor.
