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Micron's (MU) meteoric rise leads memory, chip stocks up as AI spending knows no bounds. (00:14) Samsung (SSNLF) workers set for historic $370K bonuses under 10-year AI profit deal. (01:37) Samsung (SSNLF) battles AI-driven chip shortage with landmark $1.5B Vietnam factory. (02:32)

This is an abridged transcript.

Micron Technology (MU) rocketed 19.3% on Tuesday to close at $895.88. MU is up 4% in premarket action.

The memory maker's market cap also surpassed the hallowed $1T mark, closing at $1.01T. There are only 11 other companies with market caps currently at or above $1T. Micron certainly has room to run as UBS increased its price target to $1,625.

Other memory and storage stocks also showed strong finishes on Tuesday. Western Digital (WDC) jumped 8.3% to close at a record high of $524.65. Evercore raised its price target on the stock to $575.

Seagate Technology (STX) and Sandisk (SNDK) shares climbed by 4% and 7.5%, respectively.

Hedge funds and mutual funds are continuing a dramatic rotation out of software stocks and deeper into semiconductors, according to a new report from Goldman Sachs, underscoring how investors are repositioning for the next phase of the AI-driven market rally.

Samsung Electronics (SSNLF) union members approved a profit-sharing deal on Wednesday, securing massive annual bonuses and averting a major strike.

Under the agreement, around 78,000 employees -- out of the company's 125,000-strong domestic workforce -- will each be eligible to receive a bonus of roughly $370,000 this year, based on a market estimate of annual operating profit, as per reports.

The workers' union said more than 73% of its members backed the agreement, which was struck last week after threats of an 18-day strike that had raised fears over the impact on the country's economy.

Under the 10-year deal -- tied to ambitious performance targets -- annual bonuses for employees in the semiconductor division would amount to 10.5% of the segment's operating profit and be paid in shares, alongside an additional 1.5% in cash.

Sticking with Samsung (SSNLF).

The company plans to invest 39 trillion dong ($1.5B) to build its first semiconductor testing factory in Vietnam.

The massive project targets an unexpected casualty of the artificial intelligence boom: a severe global shortage of everyday legacy chips.

According to environmental permit proposals reviewed by Reuters, the facility is engineered for massive annual capacity.

While formal environmental negotiations are ongoing, work is already well underway. More than 200 Samsung engineers and staff have been actively preparing the Thai Nguyen province site since April.

The plant is currently scheduled to go live by November 2027.

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Catalyst watch:

• Meta Platforms (META) holds its annual meeting. The event will give investors a chance to press Mark Zuckerberg and the board on heavy AI and metaverse spending after a volatile stretch for the stock.

• TTM Technologies (TTMI) will hold an Investor Day event featuring presentations, as well as a question-and-answer session with members of the company’s executive leadership team.

Stock index futures are higher, a day after the Nasdaq and S&P 500 ended higher, helped by a rally in tech stocks.

Crude oil is down 4.3% at $89. Bitcoin is down 0.1% at $79,000. Gold is down 0.4% at $4,489.

The FTSE 100 is little changed and the DAX is up 0.5%.

The biggest movers for the day premarket: Verra Mobility (VRRM) -41% - Shares tumbled after the company announced that Avis Budget Group will terminate its contract with the company effective September 2026, prompting a sharp cut to its 2026 outlook.

Economic calendar:

• 10:00 am Richmond Fed Manufacturing Index

• 11:00 am Survey of Business Uncertainty

Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.