Shares of Micron Technology Inc., the largest US maker of computer memory chips, fell after the company reported that margins will miss analysts’ estimates this quarter. Micron’s gross margins were 37.

Shares of memory-chip maker Micron Technology Inc. rose in extended trading Thursday after the company’s fiscal second quarter showed that it is still seeing a boost from AI, with its highest-capacity memory products surging in growth.

Micron Technology forecast third-quarter revenue above Wall Street estimates on Thursday, signaling strong demand for its high-bandwidth memory (HBM) chips used in AI models, sending its shares up 2% in after-hours trading.