Micron Technology surged more than 13% on Thursday, after its first-quarter revenue forecast indicated strong demand and pricing for the high-bandwidth memory chips (HBM) used to support booming generative artificial intelligence technology.

Micron Technology jumped 15.8% in premarket trading after the memory chip maker forecast higher than expected first-quarter revenue, underscoring that demand for memory chips used in AI computing was robust.

Wall Street's main indexes were set to open higher on Thursday as Micron's upbeat forecast revived the frenzy around artificial intelligence, while investors assessed a labor market report and awaited comments from Federal Reserve Chair Jerome Powell.