Micron increases US investment plan to $250 billion by 2035
Micron Technology announced on July 9 a plan to invest over $250 billion in the US through 2035, an increase from its previous $200 billion commitment. The expanded investment addresses rising AI demand and US efforts to bolster domestic chip production.
Micron Technology announced on July 9 its intention to invest more than $250 billion in the United States through 2035, raising its previous commitment of $200 billion. This expanded investment is driven by the escalating demand for artificial intelligence (AI) technologies and the U.S. government's strategic push to strengthen domestic semiconductor manufacturing capabilities.
The company's investment plan primarily targets Micron's facilities in New York, Idaho, and Virginia. Micron projects that these initiatives will generate over 90,000 jobs across the U.S. A portion of the investment, amounting to $3 billion, is allocated to bolstering the domestic semiconductor supply chain, which includes $500 million directed towards GlobalWafers' silicon wafer plant.
Micron's prior $200 billion U.S. expansion plan encompassed the development of two fabrication plants in Idaho, up to four in New York, and the modernization and expansion of its Virginia facility. The projects in Idaho and New York are specifically designed to support the production of leading-edge DRAM and High Bandwidth Memory (HBM) chips essential for AI applications. Production at the first Idaho plant is slated to commence in 2027.
In December 2024, Micron was awarded up to $6.165 billion in funding under the U.S. CHIPS Act for its Idaho and New York projects. Government officials estimate that these developments could increase the U.S. share of advanced memory chip manufacturing to approximately 10% by 2035.