Micron Technology NASDAQ:MU shares climbed about 6% on Thursday after the memory chipmaker said it will increase its planned U.S. investment to more than $250 billion through 2035, citing growing demand for AI memory products.
Micron said the expanded investment, up from its previous $200 billion commitment, is intended to support its long-term objective of producing 40% of its DRAM in the United States. The company also expects the initiative to create thousands of direct and indirect jobs while expanding domestic semiconductor manufacturing.
Micron marked another milestone by completing the first concrete pour at its Clay, New York, semiconductor campus ahead of schedule. Separately, the company said it plans to invest up to $3 billion to strengthen the U.S. semiconductor supply chain, including $500 million in strategic financing for GlobalWafers' silicon wafer facility in Sherman, Texas.
Micron and GlobalWafers also signed plans for a 10-year supply agreement and intend to collaborate on next-generation wafer technologies. The proposed transaction remains subject to definitive agreements, customary approvals and closing conditions.