Micron Technology shares surged 7% on Thursday after the company announced a massive expansion of its U.S. manufacturing operations, raising its planned domestic investment to more than $250 billion through 2035. That figure is up roughly $50 billion from previous guidance and is driven by surging memory chip demand tied to the artificial intelligence buildout. The stock was trading around $1,017, gaining $68 on the session.
As part of the plan, Micron committed up to $3 billion to strengthen the U.S. semiconductor supply chain. Of this, $500 million will go to GlobalWafers to expand its 300mm silicon wafer facility in Sherman, Texas, under a 10-year supply agreement. "Securing a reliable supply of critical input materials is essential to supporting Micron’s long-term growth and technology roadmap," said Ben Tessone, Micron’s chief procurement officer. The deal locks in domestic wafer capacity for future production.
The company also marked the first concrete pour at its fabrication plant in Clay, New York, a milestone achieved more than a quarter ahead of schedule. That site could eventually house four fabs and become the largest semiconductor manufacturing site in U.S. history. Combined with facilities in Idaho and Virginia, the full U.S. expansion is expected to create over 90,000 jobs, including 9,000 direct positions. Micron aims to eventually produce 40% of its DRAM memory chips domestically.
The news lifted the broader chip sector; Applied Materials, KLA Corp, and Lam Research each rose around 7%, while ARM Holdings jumped 11%. The investments align with Washington’s push to localize semiconductor production and reduce reliance on overseas suppliers.
