Micron Technology Inc (NASDAQ:MU) announced plans to expand its US semiconductor manufacturing and research and development (R&D) capabilities, with investments totalling $200 billion.
The company plans to invest $150 billion in domestic memory manufacturing and $50 billion in R&D, Micron announced on Thursday.
This includes the construction of a second advanced memory fabrication plant in Boise, Idaho, the expansion and modernization of Micron’s Virginia facility, and up to two additional fabrication facilities in New York.
Micron will bring advanced packaging capabilities for High Bandwidth Memory (HBM) to the US as part of the investment, which is expected to create 90,000 jobs.
"Micron's US memory manufacturing and R&D plans underscore our commitment to driving innovation and strengthening the domestic semiconductor industry," Micron CEO Sanjay Mehrotra said in a statement.
“This approximately $200 billion investment will reinforce America’s technological leadership, create tens of thousands of American jobs across the semiconductor ecosystem and secure a domestic supply of semiconductors—critical to economic and national security.
The announcement was made in partnership with the Trump administration, which noted Micron’s investment comes with up to $275 million in incremental CHIPS Act direct funding.
“Micron’s planned investment will ensure the US advances its lead across critical industries like AI, automotive, and aerospace and defense,” Secretary of Commerce Howard Lutnick said.
“And we’re doing it at a scale that secures American technology dominance for decades to come. Micron’s commitment to Idaho, New York, and Virginia is a huge win for our economy, our national security, and American workers.”
Shares of Micron traded down 0.4% at $115 following the announcement.