Micron Raises Capex by $50 Billion to $250 Billion Through 2035, Shares Rise 9 Percent

Micron announced on Thursday that it will increase its capital-expenditure budget by an additional $50 billion, bringing the estimated total through 2035 to $250 billion, Insider reported. The company said the added investment will support its long-term goal of producing 40 percent of its DRAM in the United States while creating additional jobs.

Micron shares rose as much as 9 percent on the news.

Sandisk and Western Digital each gained 7 percent. The Roundhill Memory ETF also rose 7 percent. Commerce Secretary Howard Lutnick said the announcement aligned with administration priorities. "President Trump has made it clear that America is where you should build your business and the world is responding rapidly," Lutnick stated.

Insider reported that the spending increase comes as memory capacity shortages tied to AI demand have supported margins for Micron and its peers.