Why Micron Stock Dropped on Thursday

Micron Technology stock fell 6.3% on Thursday as rising oil prices and concerns about AI infrastructure funding weighed on chip stocks. Elevated oil prices are fueling inflation concerns and keeping borrowing costs high, which threatens companies building AI infrastructure. Meta's recent negative free cash flow and plans to raise equity funding signal potential challenges in financing the AI build-out, raising questions about future demand for chips like those made by Micron.