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.

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.

U.S. markets are poised to open with gains Wednesday on a sustained strong showing from some big corporations during earnings season and an announcement from President Donald Trump on a $500 billion AI investment partnership.