This little jaunt to the $MU booth paid for the trip. Shoe leather research still pays dividends. MU construction photos are giving me Transformers Constructicon vibes.
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(Bloomberg) -- Micron Technology Inc. said it plans to increase its spending on new plants in the US to $250 billion to help meet unprecedented demand for its memory chips fueled by the global artificial intelligence boom.
The funds would add $50 billion to the company’s previously announced commitment of $200 billion toward expanding domestic chipmaking that includes projects in New York, Idaho and Virginia. The spending is expected to carry through 2035 and help support its goal of producing 40% of its DRAM components in the US a decade from now, the company said.
Shares of Micron rose as much as 8% to $1,024.27 after markets opened in New York. The company’s stock is up more than 250% since the start of the year.
Micron and other memory chipmakers have benefited from the breakneck buildout of AI infrastructure. High-end processors used in data centers require significant amounts of memory, and makers of memory devices have shifted production to serve a fast-growing market where they can demand higher premiums.
AI-driven demand for memory chips has touched off a worldwide shortage for components needed in a wide range of industries, including consumer electronics and automaking. Apple Inc. recently raised prices of all Macs, iPads, home devices and the Vision Pro, seeking to offset cost increases caused by the memory squeeze, and the iPhone maker has explored the politically risky step of buying memory products from two Chinese chipmakers blacklisted by the Pentagon.
Micron announced the latest investment plans ahead of an event outside a new plant near Syracuse, New York, that Trump administration officials including Commerce Secretary Howard Lutnick are expected to attend. In a statement, Lutnick hailed the company’s move as a sign that “there has never been a better time to invest in the United States.”
Micron’s expanded US investment follows the unveiling of plans by its two South Korean rivals, Samsung Electronics Co. and SK Hynix Inc. to invest a combined $880 billion over the next several years on added production capacity. SK Hynix is preparing to list its shares on US exchanges in a move that could raise nearly $27 billion based on the most recent close of its stock in Seoul.
In a separate statement, Micron added that it will put $3 billion toward securing domestic supply chains for semiconductors, including a $500 million in strategic financing for GlobalWafers Co., a Taiwanese silicon wafer supplier.
The two companies have entered into a 10—year agreement that will give Micron access to “significant raw silicon wafer capacity to support its long-term manufacturing plans and bolster the critical semiconductor manufacturing ecosystem in the United States,” according to the statement.
“Micron’s strategic investment in the US semiconductor ecosystem and GlobalWafers’ raw silicon wafer manufacturing facility reflects our commitment to strengthening supply assurance, deepening collaboration with key suppliers, and supporting the expansion of the semiconductor supply chain and manufacturing infrastructure in the United States” Ben Tessone, Micron’s senior vice president and chief procurement officer, said in the statement.
Micron and GlobalWafers are also open to collaborating on next-generation wafer technologies, according to the statement.
The US government has been focused on building out semiconductor manufacturing capabilities in the country since the 2022 Chips and Science Act, passed under the Biden administration and revised after President Donald Trump took office. Micron was among the companies slated to benefit from the legislation, along with Intel Corp. and Taiwan Semiconductor Manufacturing Co.
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CLAY, N.Y., July 09, 2026 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) today announced it is accelerating its planned U.S. fab and technology investments and increasing its expected spend to more than $250 billion through 2035, driven by surging demand for memory in the AI era.
Micron anticipates that the increase in investments will support its long-term goal of producing 40% of its DRAM in the U.S. while creating additional good-paying direct and indirect jobs. The expanded investment reflects Micron’s confidence in its technology leadership and continued demand for its leading-edge memory products.
The announcement comes as Micron celebrates the first concrete pour milestone at its Clay, New York site, which occurs more than one quarter ahead of the original plan and marks the transition from site preparation to vertical construction. As announced earlier today, Micron also plans to invest up to $3 billion to develop the domestic semiconductor supply chain ecosystem in support of its U.S. manufacturing footprint.
Today, Micron Chairman, President and CEO Sanjay Mehrotra will host the concrete pour, joined by supplier partners and federal, state and local leaders, including U.S. Secretary of Commerce Howard Lutnick, New York Governor Kathy Hochul, Small Business Administration Administrator Kelly Loeffler, U.S. Chief Technology Officer Dr. Ethan Klein, Onondaga County Executive Ryan McMahon, U.S. Congressman John Mannion, U.S. Congresswoman Claudia Tenney, and Town of Clay Deputy Supervisor Joe Bick.
"As America celebrates its 250th anniversary, data and memory are foundational to the modern economy — and Micron is increasing our U.S. investments to more than $250 billion through 2035 to meet that moment," said Sanjay Mehrotra, Micron Chairman, President, and CEO. "I want to thank President Trump, Secretary Lutnick, Governor Hochul, Senator Schumer, County Executive McMahon, and our partners across government and the community for their leadership. Reaching this milestone ahead of schedule reflects the speed and determination behind this project. Micron is proud to bring the world's most advanced memory manufacturing to Central New York, strengthen the domestic semiconductor supply chain and help secure America's technology leadership for generations to come."
