Micron Earmarks $15B Over The Decade On High-Tech Fab In Idaho

Micron Technology, Inc MU aims to invest $15 billion through the end of the decade to construct a new fab for leading-edge memory manufacturing in Boise, Idaho.
It marks the first new memory manufacturing fab built in the U.S. in 20 years. It is the first of Micron's multiple planned U.S. investments following the passage of the CHIPS and Science Act and represents the most significant private investment ever made in Idaho.
The fab aims to ensure the domestic supply of leading-edge memory required for market segments like automotive and data centers, fueled by the accelerating adoption of artificial intelligence and 5G.
Also Read: US $52B Chip Funding For Intel, TSMC, Samsung Will Cost Them China Ambitions: Report
The new fab will likely create over 17,000 new American jobs, including 2,000 direct Micron jobs, by the decade's end.
Earlier, Micron shared plans to invest over $150 billion globally over the next decade in manufacturing and R&D, including $40 billion to build leading-edge memory manufacturing in multiple phases in the U.S.
Micron's expectations for the CY22 industry bit demand growth for DRAM and NAND have declined amid macro uncertainties and supply chain constraints. Therefore, it expected a challenging market environment in Q4 and Q1.
Price Action: MU shares traded lower by 2.16% at $55.33 on the last check Thursday.
Photo by Wikimedia Commons