Micron shares rose about 6% on Thursday after the memory chipmaker raised its planned U.S. investment to more than $250 billion through 2035, citing growing demand for AI memory products. The company tied the expanded spending to a goal of producing 40% of its DRAM domestically.
Micron Technology stock climbed about 6% on Thursday after the memory chipmaker said it would lift its planned U.S. investment to more than $250 billion through 2035. Micron pointed to growing demand for AI memory products as the reason for the larger commitment.
The expanded spending rises from a previous $200 billion plan and supports the company's long-term goal of producing 40% of its DRAM in the United States. Micron also expects the initiative to create thousands of direct and indirect jobs while expanding domestic semiconductor manufacturing.
Clay campus and supply-chain spending
Micron marked another step by completing the first concrete pour at its Clay, New York, semiconductor campus ahead of schedule. The company separately said it plans to invest up to $3 billion to strengthen the U.S. semiconductor supply chain.
That figure includes $500 million in strategic financing for GlobalWafers' silicon wafer facility in Sherman, Texas, part of the same stock trading story lifting Micron shares. The two companies also signed plans for a 10-year supply agreement and intend to collaborate on next-generation wafer technologies. However, the proposed transaction remains subject to definitive agreements, customary approvals and closing conditions.
Source: TradingView (GuruFocus)
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