Key Highlights
- Micron shares gained 7% following the disclosure of expanded U.S. investment exceeding $250 billion by 2035
- The memory chip maker pledged up to $3 billion toward enhancing America’s semiconductor supply chain infrastructure
- A $500 million allocation will support GlobalWafers’ silicon wafer production expansion in Sherman, Texas, backed by a decade-long supply contract
- The company’s New York manufacturing facility reached a construction milestone over 25% ahead of projected timelines and may become America’s biggest semiconductor complex
- Semiconductor equipment makers Applied Materials, KLA Corp, Lam Research, and chip designer ARM Holdings saw share price increases following the announcement
Shares of Micron Technology (MU) experienced a 7% surge Thursday following the memory chip manufacturer’s revelation of a substantial expansion to its American manufacturing operations, elevating total domestic capital deployment to over $250 billion extending through 2035.
BREAKING: Micron, $MU, announces plans to invest up to $3 billion to ”strengthen the US semiconductor supply-chain ecosystem.”
Micron also raises its planned US investment to over $250 billion through 2035, which it expects to create over 90,000 jobs.
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The updated investment represents an approximately $50 billion increase compared to earlier projections, fueled by escalating memory semiconductor requirements associated with artificial intelligence infrastructure development.
MU shares traded near $1,017 Thursday, marking a $68 gain for the trading session.
Additionally, the semiconductor manufacturer revealed a distinct $3 billion initiative dedicated to fortifying America’s chip manufacturing ecosystem.
Within that allocation, $500 million has been designated for GlobalWafers — a Taiwan-based enterprise — to enhance its 300mm silicon wafer production capabilities in Sherman, Texas. This partnership features a 10-year procurement agreement securing domestic wafer availability for Micron’s upcoming manufacturing requirements.
“Ensuring dependable access to essential raw materials remains crucial for supporting Micron’s extended growth trajectory and technological advancement plans,” stated Ben Tessone, Micron’s chief procurement officer.
New York Manufacturing Facility Achieves Early Construction Milestone
A significant highlight within the announcement involved the initial concrete foundation work at Micron’s manufacturing complex in Clay, New York — a construction benchmark reached more than 25% earlier than originally scheduled.
The New York location will ultimately accommodate as many as four separate fabrication facilities. According to Micron, the complex has potential to become the most expansive semiconductor production site in American history.
The initiative is anticipated to generate approximately 50,000 total employment opportunities, encompassing 9,000 direct manufacturing positions.
When combined with manufacturing operations in Idaho and Virginia, Micron projects its comprehensive U.S. expansion will create over 90,000 jobs nationwide.
Domestic DRAM Manufacturing Objective
The company’s strategic target involves producing 40% of its DRAM memory semiconductors within the United States. This enhanced capital commitment aims to advance that objective by expanding production capacity and diminishing dependence on international suppliers.
The semiconductor industry broadly benefited from Thursday’s announcement. Applied Materials, KLA Corp, and Lam Research each experienced approximately 7% gains Thursday. ARM Holdings outperformed peers, climbing 11%.
These capital commitments complement federal government initiatives to domesticate semiconductor manufacturing and establish a more robust national supply infrastructure.
Micron’s New York facility progression from preparatory work to structural construction represents the most tangible indication that these strategic plans are transitioning from proposals to operational reality.
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