Investing.com - Elon Musk used Tesla's Q2 2026 earnings call on Wednesday evening to publicly thank Micron Technology for providing a "very significant allocation" of memory chips on "reasonable terms" at a moment when he described memory pricing as "pretty insane." Micron (NASDAQ: MU) shares rose 3.1% in intra-day action Thursday following the comments as investors interpreted the endorsement as confirmation of a deepening strategic supply relationship. The move is in stark contrast to Tesla, which is down 14.3% following an earnings miss, negative free cash flow and weak auto margins. Musk's exact words, as captured in an Investing.com earnings-call transcript, left little ambiguity about the significance of the arrangement: "I actually I'd also like to thank Micron for giving us the memory allocation. They're going to make some very tough decisions on memory allocation, and we really appreciate Micron making room for Tesla in the years to come and giving us actually a very significant allocation on reasonable terms given the pretty insane pricing of memory these days."