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.

President Donald Trump has recently announced a private sector investment to build more AI data centers, marking yet another effort by the US government to stay ahead in the race for supremacy in

U.S. stock indexes rose on Wednesday due to stronger-than-expected earnings from major tech companies and growing optimism for AI.

Other analysts seem to agree. Out of 58 analysts that cover the stock on Wall Street, 39 rate it a "buy" and 14 rate it a "strong buy," according to Yahoo! Finance. The software giant is preparing to spend $80 billion on data centers specifically for training, deploying, and operating cloud-based AI applications.

Netflix, Oracle and other big technology stocks lifted Wall Street Wednesday as their profits pile higher and excitement builds around the moneymaking prospects of artificial intelligence. The S&P 500 rose 0.