UPDATE 1-Micron to invest up to $3 billion in US chip supply chain

Micron Technology, Inc.

Micron Technology, Inc.

MU

0.00

Adds details throughout, shares in paragraph 2

July 9 (Reuters) - Micron Technology MU.O said on Thursday it plans to invest up to $3 billion to strengthen the U.S. semiconductor supply-chain, as the memory chip firm moves to secure critical manufacturing materials amid surging AI-driven demand.

Shares of the company extended gains, and were up more than 6% in premarket trading.

As part of the plan, Micron will provide $500 million in strategic financing to advance GlobalWafers' 300 mm raw silicon wafer manufacturing facility in Sherman, Texas.

The two companies will also enter into a 10-year supply agreement that will provide Micron access to significant raw silicon wafer capacity to support its long-term manufacturing plans, according to the statement.


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.