July 9 (Reuters) – Micron Technology said on Thursday it plans to invest more than $250 billion in the U.S. through 2035, driven by surging demand for memory chips in the AI era and President Donald Trump’s push to bolster domestic chip production.
The new investment plan represents a jump from the $200 billion that Micron announced last June, which was already increased by $30 billion from its original spending plans.
As part of the investment, Micron said it would spend $3 billion on strengthening the U.S. semiconductor supply chain, of which $500 million will be used to fund advancements in GlobalWafers’ 300-mm raw silicon wafer manufacturing facility in Sherman, Texas.
Shares of Micron were up more than 6% in premarket trading.
Micron and GlobalWafers will also enter into a 10-year supply agreement that will provide Micron access to significant raw silicon wafer capacity to support its long-term manufacturing plans.
(Reporting by Anhata Rooprai in Bengaluru; Editing by Arun Koyyur and Leroy Leo)
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