Chip giant bets big on U.S. manufacturing
Micron Technology plans $250 billion U.S. investment through 2035, boosting domestic semiconductor supply chain
Key Points
Clay, New York fabrication site milestone: the concrete pour occurred more than a quarter ahead of schedule, signaling accelerated progress from site prep to vertical construction at what will be one of the largest semiconductor manufacturing sites in the U.S.
Micron will enter a 10-year raw wafer supply agreement with GlobalWafers to secure 300mm wafer capacity for its Sherman, Texas facility, including up to $500 million in strategic financing.
The plan is positioned as part of a broader shift to localize the U.S. semiconductor supply chain, aiming to reduce reliance on overseas suppliers and bolster a domestic ecosystem of chip materials and manufacturing.
Micron’s stock rose in premarket trading following the announcements, with shares up about 6% (6.4% at one point during the morning), reflecting investor enthusiasm for the expansion.
The announcements come in the context of a broader policy push, with Reuters noting the plan aligns with President Trump’s efforts to bolster domestic chip production.
Micron Technology announced plans to invest more than $250 billion in U.S. semiconductor manufacturing through 2035, driven by surging demand for AI memory chips. The company also poured its first concrete at a massive fabrication site in Clay, New York — more than a quarter ahead of schedule, according to MarketScreener.
The announcement sent Micron's stock up about 6% in premarket trading. The plan is projected to create roughly 50,000 direct jobs and more than 90,000 total when combined with other U.S. projects.
Clay, New York Site Leaps From Dirt to Concrete
Micron broke ground on its Clay, New York site in January 2023. Now it has reached a major milestone: the first concrete pour for the foundation of its first fabrication plant. CNY Central reported that the pour marks the shift from site preparation to vertical construction. That means the building itself is now going up.
The milestone arrived more than a quarter ahead of the original schedule, according to Spectrum Local News. When complete, the Clay site is expected to be one of the largest semiconductor manufacturing facilities in the United States. The full campus carries a price tag of up to $100 billion.
$250 Billion Bet on Keeping Chips Made in America
Micron raised its long-term U.S. investment target to exceed $250 billion through 2035. The goal is to grow U.S. DRAM production — that is, the type of memory chip used in computers and AI servers — to 40% of its total global output. DRAM currently relies heavily on overseas factories, mostly in Asia.
The plan includes up to $3 billion to build out a broader domestic chip supply ecosystem. Micron framed the move as a way to reduce U.S. reliance on foreign semiconductor suppliers, according to MarketScreener. The push aligns with President Trump's push to bring chip manufacturing back to American soil.
$500 Million Deal Locks In Texas Wafer Supply
Micron also struck a 10-year supply deal with GlobalWafers for 300mm silicon wafers — the large discs used to make chips. The deal covers GlobalWafers' facility in Sherman, Texas. Micron will provide up to $500 million in strategic financing to support that plant, according to W.Media.
The agreement is designed to secure a steady U.S.-based supply of raw materials. Right now, most wafer production happens abroad. Locking in a domestic source helps Micron avoid supply chain disruptions that hit the chip industry hard during the COVID-19 pandemic.
Investors Cheer the Expansion as AI Demand Grows
Micron shares jumped roughly 6.4% in premarket trading after the announcements. Investors see the expansion as well-timed. Demand for memory chips has surged as AI systems require massive amounts of fast, high-capacity memory to run. Micron is one of only three major DRAM makers in the world.
W.Media noted that Micron is accelerating its U.S. investments specifically because of the AI era's growing memory needs. The company says the broader program — factories, supply deals, and ecosystem funding — positions it to lead in the next wave of chip demand.
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