By Harshita Mary Varghese (Reuters) -Micron Technology shares surged roughly 14% in after-hours trading after the memory maker forecast higher than expected first-quarter revenue due to the thirst for its memory chips used in artificial intelligence computing.

Micron Technology (MU) stock jumped after the memory-chip maker posted better-than-expected quarterly results and issued guidance that topped Wall Street expectations. The stock was up more than 13% in recent trading.

Within the semiconductor industry, Micron has established itself as a leader in the dynamic random-access memory chip segment. DRAM is widely used in personal computers and servers.