Investors looking for new ways to bet on artificial intelligence infrastructure have been piling into an old but often overlooked name: Micron Technology Inc.

The memory-chip maker’s stock is among the S&P 500’s top performers in June, as investors stay bullish on better DRAM pricing and demand for HBM chips.

Micron's valuation got a boost today as macroeconomic and geopolitical developments pointed to a more favorable backdrop for investors. Excitement surrounding the company's quarterly report tomorrow may have also factored into the valuation move.