(RTTNews) – Micron Technology, Inc. (MU), a manufacturer of semiconductors and storage products, Thursday announced that it is boosting its planned US fab and technology investments and is expecting to spend more than $250 billion through 2035, driven by surging demand for memory in the AI era.
Micron’s New York project of four fabs is expected to generate 50,000 jobs in New York, including 9,000 direct Micron jobs.
Further, the company’ first wafer output is expected in mid-calendar 2027 for the first fab and late calendar 2028 for the second and in Virginia, Micron launched initial production of its 1(1-alpha) DDR4 technology, supporting customers long lifecycle product needs in auto, industrial, medical, aerospace and defense markets.
These projects are anticipated to create more than 90,000 jobs.
The company surmises the increase in investments will support its long-term goal of producing 40 percent of its DRAM in the U.S. while creating additional good-paying direct and indirect jobs.
The semiconductor manufacturer plans to invest up to $3 billion to develop the domestic semiconductor supply chain ecosystem in support of its U.S. manufacturing footprint.
Currently, MU shares are trading at $1018.44, up 7.39% on the Nasdaq.
