Micron Technology NASDAQ:MU, a U.S. memory-chip maker, is increasing its planned investment in new American manufacturing plants to $250 billion as demand for memory chips continues to rise with the rapid expansion of AI infrastructure. The new figure adds $50 billion to Micron's earlier $200 billion commitment and is expected to support domestic chipmaking projects in New York, Idaho, and Virginia through 2035.
Micron also announced a separate $3 billion push to strengthen U.S. semiconductor supply chains, including $500 million in strategic financing for GlobalWafers, a Taiwanese supplier of silicon wafers used in chip production. Under a 10-year agreement, GlobalWafers is expected to provide Micron with significant raw silicon wafer capacity, which may help Micron support its long-term manufacturing plans and deepen the U.S. semiconductor supply chain.
Investors appeared to respond positively, with Micron shares rising 6.5% in premarket trading in New York. The move comes as memory-chip rivals Samsung Electronics (SSNLF), a South Korea-based chipmaker, and SK Hynix (HXSCL), a South Korea-based memory-chip maker, have also outlined major expansion plans, with the two companies last week unveiling plans to spend up to $880 billion on projects including new fabs.