Micron Technology, one of the major manufacturers of memory chips, announced this Thursday that it plans to inject up to 3 billion dollars (about 2.6 billion euros) into the United States with the aim of shoring up the national semiconductor sector and deploying essential production infrastructure to sustain long-term technological innovation.
With this move, the company aims to guarantee access to critical manufacturing materials in US territory, strengthen supply security, gain margin in multi-year strategic planning, and accompany the increase in demand for advanced memory and storage solutions associated with artificial intelligence and other data-intensive applications, in coherence with the commitments made to the country's economy.
After the announcement of this multi-billion dollar investment, Micron's shares soared 7% on the New York Stock Exchange, surpassing the 1,000 dollar per share mark.
Of the total planned, 500 million dollars (437 million euros) will go to GlobalWafers, in order to boost the development and productive capacity of its raw silicon wafer plant located in Sherman, Texas.
In addition, the two companies will sign a ten-year supply contract through which Micron will have access to significant raw silicon wafer production capacity to support its long-term manufacturing plans and consolidate the semiconductor manufacturing ecosystem in the United States.
"Micron's strategic investment in the US semiconductor ecosystem and in GlobalWafers' raw silicon wafer manufacturing plant reflects our commitment to strengthening supply assurance, deepening collaboration with key suppliers, and supporting the expansion of the semiconductor supply chain and manufacturing infrastructure in the United States," said Ben Tessone, Senior Vice President and Chief Procurement Officer at Micron.
"Micron's promise to invest $3 billion to strengthen the U.S. semiconductor supply chain and expand domestic manufacturing capacity is making America stronger in a sector vital to our economy and our technological leadership. When big companies invest in America, manufacture in America, and bet on American workers, we create the conditions for our country and our companies to succeed," stated former Trump administration Commerce Secretary Howard Lutnick.
"Memory chips are vital to the infrastructure we rely on, from satellites and cars to medical devices and defense systems. President Trump's trade agenda protects these critical industries by incentivizing companies to manufacture, invest, and innovate on American soil," stated U.S. Trade Representative Jamieson Greer.