Micron Announces $40 Billion Investment in Leading-Edge Memory Manufacturing in the US
August 09 2022 - 5:01AM
Micron Technology, Inc. (NASDAQ: MU), one of the world’s largest
semiconductor companies and the only U.S.-based manufacturer of
memory, today announced its plans to invest $40 billion through the
end of the decade to build leading-edge memory manufacturing in
multiple phases in the U.S. With the anticipated grants and credits
made possible by the CHIPS and Science Act, this investment will
enable the world’s most advanced memory manufacturing in America.
Micron expects to begin production in the second half of the
decade, ramping overall supply in line with industry demand trends.
Micron’s planned investment, the largest in memory manufacturing
in U.S. history, will ultimately create up to 40,000 new American
jobs including approximately 5,000 highly paid technical and
operational roles at Micron. The Micron investment will also enrich
surrounding communities by bolstering education, workforce
training, transportation and several other services. Micron is
finalizing its specific U.S. expansion plans and will share
additional details in the coming weeks.
Micron’s domestic leading-edge manufacturing capabilities will
ensure U.S. national security and supply chain resilience as demand
for memory grows in critical market segments like automotive and
data center, fueled by accelerating adoption of artificial
intelligence and 5G. The announcement, made ahead of Micron
executives joining President Joe Biden at the White House for the
signing of the momentous CHIPS and Science Act, aligns with the
company’s financial plans and is a key element of Micron’s $150+
billion global investment in manufacturing and R&D over the
next decade.
“I thank President Biden, U.S. Secretary of Commerce Gina
Raimondo and the full Administration as well as members of Congress
for their bipartisan support of the CHIPS and Science Act, which is
an important step toward solidifying American semiconductor
leadership for decades to come. I am honored to take part in this
historic White House bill signing ceremony with them and fellow
executives,” said Micron President and CEO Sanjay Mehrotra. “This
legislation will enable Micron to grow domestic production of
memory from less than 2% to up to 10% of the global market in the
next decade, making the U.S. home to the most advanced memory
manufacturing and R&D in the world.”
Founded in 1978 in Boise, Idaho, Micron is leading memory
innovation with over 50,000 lifetime patents and counting. Boise is
the epicenter of Micron’s research efforts to develop the world’s
most advanced memory and storage technologies. Micron investments
in leading-edge technology advancements included nearly $3 billion
of R&D in fiscal year 2021. Micron is committed to continuing
to expand R&D in future years at a rate consistent with its
long-term revenue growth expectations, contributing to America’s
technological leadership and global competitiveness.
Today’s announcement builds on the billions of dollars of
investments Micron has made over the last several years in U.S.
manufacturing and R&D facilities, including the company’s newly
established Atlanta Design Center, its Manassas, Virginia
manufacturing site and corporate headquarters in Boise.
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.
© 2022 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 Contact
Erica Rodriguez Pompen
Micron Technology, Inc.
+1 (408) 834-1873
epompen@micron.com
Micron Investor Relations Contact
Farhan Ahmad
Micron Technology, Inc.
+1 (408) 834-1927
farhanahmad@micron.com
Micron Technology (NASDAQ:MU)
Historical Stock Chart
From Mar 2024 to Apr 2024
Micron Technology (NASDAQ:MU)
Historical Stock Chart
From Apr 2023 to Apr 2024