Memory chip maker Micron (MU) announced on Thursday that it will invest an additional $30 billion in the US as it looks to build out its manufacturing and research and development facilities in Idaho and New York.
The move brings Micron’s total US manufacturing and R&D investments up to roughly $200 billion, which would create some 90,000 direct and indirect jobs, the company said. Micron is receiving about $6.5 billion in funding from the US CHIPS and Science Act.
The plans call for Micron to build a second memory manufacturing plant at its Boise, Idaho, facility and a massive chip fabrication complex in New York. The company is also updating and expanding its Virginia plant.
Micron said it expects the second Idaho plant to help the company bring its advanced high-bandwidth memory (HBM) manufacturing to the US. HBM is a key component in AI data centers.
“Micron’s investment in advanced memory manufacturing and HBM capabilities in the U.S., with support from the Trump Administration, is an important step forward for the AI ecosystem,” Nvidia (NVDA) CEO Jensen Huang said in a statement.
“Micron’s leadership in high-performance memory is invaluable to enabling the next generation of AI breakthroughs that NVIDIA is driving. We’re excited to collaborate with Micron as we push the boundaries of what’s possible in AI and high-performance computing,” Huang added.
All totaled, Micron said the investments will allow the company to produce 40% of its DRAM memory in the US. Its initial Idaho plant is expected to begin pumping out the hardware in 2027. Micron also said it is set to begin preparing the ground for its New York facilities later this year.
“This approximately $200 billion investment will reinforce America’s technological leadership, create tens of thousands of American jobs across the semiconductor ecosystem and secure a domestic supply of semiconductors — critical to economic and national security,” Micron CEO Sanjay Mehrotra said in a statement.
“We are grateful for the support from President Trump, Secretary Lutnick and our federal, state, and local partners who have been instrumental in advancing domestic semiconductor manufacturing.”
Micron isn’t the only company bringing HBM production to the US. South Korea’s SK Hynix is building a new HBM plant in Indiana as part of a $3.8 billion construction project.
The Trump administration, and the Biden administration before it, has made onshoring semiconductor manufacturing a key component of its domestic agenda as it seeks to wean the country off its dependence on foreign-made chips.
Companies ranging from Intel (INTC) and TSMC (TSM) to Samsung and GlobalFoundries (GFS) and others have recently announced plans to build or upgrade their facilities throughout the country, thanks in part to billions of dollars in funding through the CHIPS Act.
Email Daniel Howley at dhowley@yahoofinance.com. Follow him on X/Twitter at @DanielHowley.
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