Micron (MU) Commits $200 Billion to U.S. Chip Manufacturing Expansion
Warning! GuruFocus has detected 3 Warning Sign with MU.
The company will spend $150 billion on new and expanded fabs in Idaho, New York, and Virginia, alongside $50 billion for research and development, including high-bandwidth memory packaging.
Micron said it has secured federal, state, and local support for the projects, including up to $6.4 billion through the CHIPS and Science Act, and expects to benefit from the Advanced Manufacturing Investment Credit.
CEO Sanjay Mehrotra said the expansion would strengthen U.S. tech leadership, create tens of thousands of jobs, and ensure supply chain resilience.
Micron shares were little changed Thursday but remain near a 12-month high, up 37% year to date.
This article first appeared on GuruFocus.
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