BUSINESS

United States Micron raises chip investment to $250bn

▪

Read, Watch or Listen

Micron Technology said on July 9 it will invest more than $250 billion in U.S. semiconductor manufacturing facilities and supply-chain infrastructure through 2035, increasing its previous $200 billion plan by $50 billion. The company highlighted its New York State manufacturing campus, which is running over a quarter ahead of schedule and, together with expansions in Idaho and Virginia, is expected to generate more than 90,000 U.S. jobs. Micron will also invest $3 billion in the domestic supply chain, including $500 million to upgrade GlobalWafers’ Sherman, Texas wafer plant, and aims to manufacture 40% of its DRAM output in the United States.

Prepared by Christopher Adams and reviewed by editorial team.

Timeline of Events

June 2023 Micron announces $200bn U.S. plan
Last year Earlier target previously increased $30bn
Last month Micron reports $22bn advance orders
July 9 2024 Investment target raised to $250bn
July 9 2024 New York campus ahead of schedule
July 9 2024 Idaho and Virginia expansions detailed
July 9 2024 $3bn U.S. supply-chain investment announced
July 9 2024 Long-term GlobalWafers supply deal signed

Why This Matters to You

Micron's $250 billion investment means more jobs. Over 90,000 of them across New York, Idaho, and Virginia. Plus, a stronger U.S. tech supply chain. If you're job hunting or know someone who is, tech manufacturing could be worth a look.

The Bottom Line

Micron is betting big on U.S. manufacturing. This could mean more stability in tech prices and job growth in several states. Worth forwarding if you know someone considering a career in tech.