Global tech stocks rebounded sharply on Thursday after Micron delivered a stunning earnings beat, with Nasdaq 100 futures jumping 2.2% and the chipmaker's shares surging more than 17% in pre-market trading. The company reported an almost 15-fold surge in quarterly profits, easing concerns that the AI-driven rally had outpaced fundamentals and pushing back against bubble fears that had rattled investors earlier in the week.

Deutsche Bank analysts said Micron's results 'reignited hopes about AI-fuelled growth' while UBS's Mark Haefele noted the numbers 'restored AI optimism' and highlighted strong data centre memory demand. The stock has more than tripled this year, catapulting Micron into the trillion-dollar valuation club amid intense focus on semiconductor supply dynamics.

Other chip stocks rallied broadly, with Qualcomm gaining over 11% and Intel up more than 5% in pre-market action. South Korea's Kospi climbed 5.4% as SK Hynix jumped 13% and Samsung rose 5%. European chipmakers followed suit, with ASML up 4.5% and Japan's Topix gaining 1.3%. The rebound reversed losses from earlier in the week when investors fretted about AI spending returns and potential supply-demand imbalances.

Market sentiment also improved as Brent crude fell 1.8% to $72.40, returning to pre-conflict levels. However, investor nerves persist around whether memory chip demand can sustain current valuations, with Causeway Capital's Sarah Ketterer warning that any sign of supply catching up with demand could trigger sharp corrections in chip stocks.