Micron Lifts U.S. Chip Spending Target to $250B, Inks $500M Wafer Supply Deal
MU has more than doubled off its 52-week low of $103.38 on light trading volume (0.1× avg).
Summary
Micron raised its expected U.S. chip manufacturing investment to $250 billion through 2035, a significant increase that underscores the scale of AI-driven memory demand. The company also committed up to $3 billion to build a domestic supply chain, including $500 million in strategic financing to GlobalWafers for a Texas silicon wafer plant and a 10-year supply agreement. Construction of its Clay, New York facility is already a quarter ahead of schedule. Shares jumped 6.8% premarket, reflecting the market's view that these moves secure critical wafer supply and accelerate capacity expansion. This follows a series of bullish signals — HBM sold out for 2026, record Q3 results, and a market cap above $1 trillion — reinforcing Micron's position in the AI memory boom.
At the time of this announcement, MU was trading at $1,010.99 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.1T. The 52-week trading range was $103.38 to $1,255.00. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.