Micron boosts US investment plan again, commits $250 billion through 2035

July 9 (Reuters) - Micron Technology ‌said on Thursday ​it ​plans to invest more than $250 billion in the U.S. through 2035, driven by surging demand for memory chips in the ‌AI era and President Donald Trump's push to bolster domestic chip ⁠production.

The new investment plan represents a jump from the $200 billion that Micron announced last ‌June, which was already increased ‌by $30 billion from its original spending plans.

Shares of Micron were up about 8% in early trading, adding to a more than 200% surge ​in value so far this year.

Domestic chip manufacturing has been a key priority for the Trump administration, as the U.S. seeks to reduce ⁠dependence on foreign semiconductor production, boost economic output and maintain its lead in the global AI ​race.

At the center of Micron's expanded investment plans is a semiconductor campus in New York. The project is running more ​than one quarter ahead of schedule, the ‌company said on Thursday.

The New York facility, together with the company's expansion of its Idaho and Virginia operations, is ⁠expected to create more than 90,000 jobs in the country, Micron said.

As part of the investment, Micron said it would spend $3 billion on strengthening the U.S. ⁠semiconductor supply chain, of which $500 million will be used to fund advancements in GlobalWafers' 300-mm ​raw silicon wafer manufacturing facility in Sherman, Texas.

The two companies will also enter into a 10-year supply agreement that will provide significant raw silicon wafer capacity to support ‌Micron's long-term manufacturing plans.

Micron, a key supplier for Nvidia's AI chipsets, has seen demand for its chips surge ‌due to the AI boom. Last month, the company said its customers - across ⁠the data center, consumer and ‌automotive markets - had locked ​in supplies of memory chips worth $22 billion.

(Reporting by Anhata Rooprai and Deborah Sophia in Bengaluru; Editing by Arun Koyyur and ‌Leroy Leo)

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