Micron expands US memory chip production with $15B facility
Micron expands US memory chip production with $15B facility
Abstract
Dive Brief: Micron Technologies broke ground last week on an Idaho memory fabrication plant, part of its plan to boost domestic chip production, the company said in an announcement. The facility will be the first new memory chip production facility built in the U.S. in 20 years, according to Micron. Dive Insight: The Idaho facility is part of Micron's plan, announced last month, to invest $40 billion in advanced memory chip manufacturing in the U.S. through the end of the decade - contingent upon federal funding from the CHIPS and Sciences Act. The Boise facility is the first of Micron's investments in domestic production capacity following the passage of the CHIPS Act, and the company is currently in the final stages of selecting another high-volume manufacturing site. "The investment, made possible by the anticipated grants and credits provided by the CHIPS and Science Act, also enhances Micron's supply chain resilience and will establish a new strategic capability in the U.S.," Micron President and CEO Sanjay Mehrotra said in a statement. The new facility will share space with Micron's R&D center, which the company said will accelerate memory chip production by simplifying technology deployment and reducing time to market. The company expects demand will continue to be slow in Q4. And Micron is not the only global memory chipmaker expanding with a long-term view.