Micron Technology is increasing its planned U.S. investments to more than $250 billion through 2035. The company attributes the acceleration to surging demand for artificial intelligence memory.
Construction is ahead of schedule at the new leading-edge memory fab in Clay, New York. Workers poured the first concrete at the site today to mark the milestone.
Micron is also committing up to $3 billion to strengthen the domestic semiconductor supply chain. This initiative includes $500 million in financing for a GlobalWafers facility in Texas. The investment secures a 10-year supply agreement for Micron.
Reuters reported that Micron shares rose more than 6% in premarket trading following the announcement.