Micron to Invest $200B to Enhance Domestic Chip Production
12 minutes ago
Micron Technology (MU) has announced plans to significantly expand its domestic production capabilities in response to a push from President Donald Trump for companies to bolster American manufacturing.
The semiconductor manufacturer, along with the Trump administration, revealed that Micron will allocate around $150 billion for memory production and an additional $50 billion for research and development (R&D).
Investment will primarily target the construction of “two leading-edge high-volume fabs in Idaho, up to four fabs in New York, and the modernization of an existing facility in Virginia,” alongside advanced high-bandwidth memory packaging capabilities.
Micron noted that various levels of government funding have already been secured for its fab projects, including up to $6.4 billion from the CHIPS and Science Act. They also anticipate that these investments will qualify for federal Advanced Manufacturing Investment Credit.
CEO Sanjay Mehrotra stated that this initiative will strengthen America’s technological position, generate tens of thousands of jobs in the semiconductor sector, and ensure a domestic supply of semiconductors crucial for both economic growth and national security.
Recently, General Motors (GM) unveiled plans to spend $4 billion to enhance vehicle production across three U.S. plants, adding to the growing trend of companies investing heavily in domestic operations.
In the tech sector, Micron shares have performed notably well, boasting a 38% increase this year, reaching their highest values since the previous July.
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