Micron Technology Inc., the largest US maker of computer memory chips, gained the most in nearly 13 years after giving surprisingly strong sales and profit forecasts, helped by demand for artificial intelligence gear.

Wall Street's main indexes rose in choppy trading on Thursday, with the S&P 500 hitting an intraday record high after Micron's upbeat forecast rekindled the hype around artificial intelligence, and a soft jobless claims report soothed worries about the labor market.

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An analyst said investors were largely expecting Micron to miss on its outlook. Instead the company’s forecast topped expectations.

Micron Technology stock jumped in premarket trading Thursday after the memory-chip company reported strong earnings and provided guidance above Wall Street expectations. For the quarter ended Aug. 29,