Micron $MU Technology announced Thursday it is raising its planned U.S. investment to more than $250 billion through 2035, a roughly $50 billion increase from its prior commitment, driven by demand for memory chips in the artificial intelligence era.
Reaching 40% of DRAM output on U.S. soil is the target the expanded funding is designed to hit, and Micron projected that the broader domestic manufacturing buildout would support more than 90,000 jobs, the company said. Micron Chairman, President and CEO Sanjay Mehrotra made the announcement at an event in Clay, New York, where the company also marked the first concrete pour at its new fab — a milestone reached more than one quarter ahead of the original schedule.
"As America celebrates its 250th anniversary, data and memory are foundational to the modern economy — and Micron is increasing our U.S. investments to more than $250 billion through 2035 to meet that moment," Mehrotra said in a statement. Commerce Secretary Howard Lutnick and New York Governor Kathy Hochul were among the officials on hand for the event.
The New York facility, located near Syracuse, is expected to be the largest semiconductor manufacturing site in U.S. history, the company said. With up to four fabs planned, the project is projected to generate 50,000 jobs in New York, including 9,000 direct Micron positions. Less than six months after breaking ground in January 2026, Micron said it has directed approximately $675 million to New York-based contractors, suppliers, and subcontractors, with more than 80% of on-site workers drawn from New York residents.
In a separate announcement, Micron outlined a plan to direct up to $3 billion toward strengthening the U.S. semiconductor supply chain, with $500 million of that earmarked as strategic financing for GlobalWafers, a silicon wafer maker based in Taiwan, to scale up production capacity at its Texas operations. Under the deal, GlobalWafers would supply Micron with raw silicon wafers over a decade-long contract tied to the company's long-term U.S. manufacturing plans.
Beyond New York, Micron said construction is underway on two new fabs in Boise, Idaho, with first wafer output expected in mid-2027 for the first fab and late 2028 for the second. The company launched initial production at a Virginia facility earlier this year.
Shares climbed to an intraday high of $1,035.50 on Thursday, a gain of as much as 9.1% on the session. Year to date, the stock has more than tripled in value.
The announcement builds on a period of strong momentum for Micron. The company reported fiscal third-quarter results that cleared analyst targets on nearly every key measure, with the company projecting that a memory-chip shortage will persist past 2027.