technology
Micron Raises Planned U.S. Investment to $250 Billion Through 2035
Micron announced a $3 billion strategic investment and increased its total U.S. spending target by $50 billion. Shares of the company and peer chipmakers rose on the news reported by CNBC.
Jul 9, 11:21 AM·1m read1 source
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Micron announced plans to raise its total U.S. investment to $250 billion through 2035, a $50 billion increase from earlier targets, CNBC reported. The chipmaker also unveiled a new strategic investment of up to $3 billion to strengthen the domestic semiconductor supply chain.
The $3 billion package includes $500 million for GlobalWafers to expand wafer development and manufacturing at its Texas facilities. It also includes a 10-year supply agreement for raw silicon wafer capacity. "Securing a reliable supply of critical input materials is essential to supporting Micron's long-term growth and technology roadmap," said Ben Tessone, Micron's chief procurement officer.
Micron shares rose 7% on Thursday. Applied Materials, KLA Corp and Lam Research shares each gained 7%, while ARM Holdings shares climbed 11%.
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