Micron lifts U.S. chip investment plan above $250 billion

Micron Technology (Nasdaq: MU) said on July 9 it plans to raise its U.S. manufacturing and technology investment to more than $250 billion through 2035, expanding a previously announced domestic program as demand for AI memory chips accelerates.

The increase adds roughly $50 billion to Micron's prior U.S. commitment of about $200 billion. The company said the spending will support rising demand for memory in the AI era and advance its goal of producing 40% of its DRAM in the United States.

Micron disclosed the expanded plan as it marked the first concrete pour at its Clay, New York site, moving the project from site preparation into vertical construction. The company has called the Clay complex the center of its U.S. manufacturing strategy and the largest semiconductor manufacturing site in U.S. history. Micron plans up to four leading-edge high-volume fabs in New York over time.

Work is also progressing in Idaho, where first wafer output from Micron's first Boise fab is expected in mid-2027 and output from a second fab in late 2028. In Virginia, the company is expanding and modernizing its Manassas facility to increase domestic memory production and onshore more advanced manufacturing steps.

Beyond fabs, Micron said it plans to invest up to $3 billion to develop the domestic semiconductor supply chain. Reuters reported that $500 million of that amount is earmarked for work at GlobalWafers' 300-millimeter raw silicon wafer facility in Sherman, Texas, alongside a 10-year supply agreement to secure wafer capacity.

The plan builds on Micron's June 2025 announcement that it would expand U.S. spending to about $200 billion, including $150 billion for manufacturing and $50 billion for domestic research and development. That earlier package, made alongside the Trump administration, was paired with up to $275 million in incremental CHIPS Act direct funding. In December 2024, the U.S. Department of Commerce awarded Micron up to $6.165 billion in CHIPS Act support tied to projects in Idaho and New York.

Micron said its broader U.S. program is expected to create more than 90,000 direct and indirect jobs. Chief Executive Sanjay Mehrotra said the investment would help ensure that leading-edge technologies are built in the United States.

Demand for high-bandwidth memory and leading-edge DRAM has risen as hyperscale companies increase spending on AI infrastructure, tightening supply across parts of the memory market and improving pricing for advanced products.

The program commits Micron to a long-dated capital spending plan whose returns will depend on execution, subsidy support and the durability of the current memory upcycle. Micron did not provide a full annual breakdown of the spending.