Shares of Micron Technology rose more than 7% after the memory chip maker announced plans to increase its investment in the United States to more than $250 billion by 2035, up from its previous commitment of $200 billion.
The company said the additional investment is being driven by the growing global demand for memory chips, particularly as artificial intelligence, cloud computing and data centres continue to expand.
Micron said the increased spending will support its long-term objective of producing 40% of its DRAM memory chips in the United States, helping strengthen domestic semiconductor manufacturing and reduce reliance on overseas production.
The company also expects the expanded investment programme to create about 100,000 jobs across construction, manufacturing and related industries over the coming years.
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In addition, Micron announced plans to invest up to $3 billion to strengthen the US semiconductor supply chain, supporting suppliers and improving the country’s ability to manufacture advanced chips locally.
The announcement coincided with a major construction milestone at Micron’s semiconductor campus in Clay, New York, where the company celebrated the first concrete pour for the project. According to Micron, the milestone was achieved more than one quarter ahead of the original construction schedule.
Commenting on the announcement, US Commerce Secretary Howard Lutnick praised the company’s commitment to expanding chip manufacturing in the country.
“Today, Micron pours the foundation on its massive semiconductor campus in upstate New York and increases its American investment commitment to $250 billion, creating nearly 100,000 jobs and providing leading-edge memory supply here in the United States,” Lutnick said.
The announcement comes as the United States continues efforts to boost domestic semiconductor production and strengthen supply chains following global chip shortages experienced in recent years.
Investors reacted positively to the news, sending Micron’s shares sharply higher as the market welcomed the company’s larger investment commitment and long-term growth strategy.
The expansion is expected to further strengthen Micron’s position as one of the world’s leading memory chip manufacturers while supporting the broader goal of increasing advanced semiconductor production within the United States.