Micron Announces Over $150 Billion in Global Manufacturing and R&D Investments to Address 2030 Era Memory Demand
October 20 2021 - 6:00AM
Micron Technology, Inc. (Nasdaq: MU), the only U.S.-based
manufacturer of memory and one of the world’s largest semiconductor
manufacturers, today announced that it intends to invest more than
$150 billion globally over the next decade in leading-edge memory
manufacturing and research and development (R&D), including
potential U.S. fab expansion. Micron’s investment will address
increasing demand for memory that is essential to all computing.
Memory and storage are a growing portion of the global
semiconductor industry, and today represent approximately 30% of
the semiconductor market. Secular growth drivers like 5G and AI
will expand usage of memory and storage across the data center and
the intelligent edge, and in areas like automotive and a diversity
of user devices.
“Memory is at the leading edge of semiconductor manufacturing
and fuels everything from feature-rich 5G smartphones to the
AI-enabled cloud,” said Micron President and Chief Executive
Officer Sanjay Mehrotra. “Micron’s leadership in both DRAM and NAND
technologies and the strength of our roadmap enable us to invest
more than $150 billion with confidence to extend our
industry-leading memory innovation into the next decade, and
deliver differentiated products to our customers. We look forward
to working with governments around the world, including in the U.S.
where CHIPS funding and the FABS Act would open the door to new
industry investments, as we consider sites to support future
expansion.”
State-of-the-art memory manufacturing at competitive cost
requires large-scale fabs that have the potential to create tens of
thousands of new jobs and significant economic growth. U.S. memory
manufacturing costs run 35-45% higher than in lower-cost markets
with established semiconductor ecosystems, making funding to
support new semiconductor manufacturing capacity and a refundable
investment tax credit critical to potential expansion of U.S
manufacturing as part of Micron’s targeted investment.
“The growth of the data economy is driving increased customer
demand for memory and storage,” said Executive Vice President of
Global Operations Manish Bhatia. “Leading-edge memory manufacturing
at scale requires production of advanced semiconductor technology
that is pushing the laws of physics, and our markets demand
cost-competitive operations. Sustained government support is
essential for Micron to ensure a resilient supply chain and
reinforce technology leadership for the long term.”
Micron has a global manufacturing and R&D network that spans
13 countries. The company, which has amassed over 47,000 patents in
its more than 40-year history, invests billions of dollars annually
in R&D. The majority of that investment occurs in the U.S.
where Micron operates one of the world’s most advanced R&D
centers at its Boise, ID headquarters, and conducts leading-edge
research, design and development work.
For more information, visit
https://www.micron.com/manufacturing-expansion.
About Micron Technology, Inc.
We are an industry leader in innovative memory and storage
solutions transforming how the world uses information to enrich
life for all. With a relentless focus on our customers, technology
leadership, and manufacturing and operational excellence, Micron
delivers a rich portfolio of high-performance DRAM, NAND and NOR
memory and storage products through our Micron® and Crucial®
brands. Every day, the innovations that our people create fuel the
data economy, enabling advances in artificial intelligence and 5G
applications that unleash opportunities — from the data center to
the intelligent edge and across the client and mobile user
experience. To learn more about Micron Technology, Inc. (Nasdaq:
MU), visit micron.com.
© 2021 Micron Technology, Inc. All rights reserved. Information,
products, and/or specifications are subject to change without
notice. Micron, the Micron logo, and all other Micron trademarks
are the property of Micron Technology, Inc. All other trademarks
are the property of their respective owners.
Micron Media Relations ContactErica Rodriguez
PompenMicron Technology, Inc.+1 (408)
834-1873epompen@micron.comMicron Investor Relations
ContactFarhan Ahmad Micron Technology, Inc. +1 (408)
834-1927farhanahmad@micron.com
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