McMahon makes room for Micron in his seventh State of the County address
NEDROW, N.Y. (WSYR) — With the company planning to break ground in November, Onondaga County Executive Ryan McMahon intends to ask the legislature for $27 million to purchase more land to use for supply chain companies that support the semiconductor manufacturer.
But that was not all McMahon wanted to improve upon during his seventh State of the County address. He said he also wants more hotels, including an $83 million project to bring Tempo by Hilton to the Inner Harbor. He also announced a new apartment effort in Liverpool by Onondaga Lake Park.
Micron wasn't the centerpiece of the whole address. In the middle of his speech, the county executive talked about educational programs that prepare students in Central New York to pursue careers in the CHIPS industry.
With only months to go before the start of the generational project, McMahon celebrated the plan and the 9,000 high-paying jobs it will create.
'That job number represents a staggering $972 million of new payroll in our community each year,' McMahon said. 'This doesn't even factor in construction, supply chain, and community growth jobs.'
Before Micron breaks ground, McMahon emphasized the importance of education as a powerful workforce pipeline.
'Work is well underway at the STEAM school…first county-wide STEAM school in New York State…as it prepares to welcome its first class of students this fall,' he said.
He also drew attention to the ERIE 21 initiative.
'Over the last several years, ERIE 21 has introduced middle school students to STEM-related fields,' he said.
The program has branched out to Onondaga and LaFayette school districts to give students more opportunities to learn about robotics, engineering, and coding because those skills can be utilized in semiconductor manufacturing.
'We have the jobs now and we can gear curriculum in the schools to those jobs,' he said. 'Whereas before, what we were doing…we were teaching our kids very, very well and then we were sending them to other communities so that they could make those communities grow. Now, we're turning that around.'
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 hours ago
- Yahoo
Micron (MU) Ships World's First 1-Gamma LPDDR5X to Power Faster, Smarter AI Smartphones
We recently published a list of . In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against other buzzing AI stocks on latest news and ratings. On June 3rd, Micron Technology, Inc. (NASDAQ:MU) announced shipping of the world's first 1γ (1-gamma) node-based low-power double data rate 5X (LPDDR5X) memory. Known to be a game-changer for the mobile industry, it has the ability to accelerate AI applications on flagship smartphones. The Micron LPDDR5X delivers faster, smoother mobile experiences and longer battery life for users. This is true even when operating data-intensive workloads such as AI-powered translation or image generation. A close-up view of a computer motherboard with integrated semiconductor chips. Next-generation smartphone designs are competing to be as compact as possible, and the LPDDR5X package size boasts to be the industry's thinnest package of 0.61 millimeters. This makes it 6% thinner compared to competitive offerings, and marks a 14% height reduction from the previous generation. As such, Micron's latest offering offers users a whopping 20% power savings, offering users the ability to enjoy their favorite AI applications, games, and video content longer on a single charge. Moreover, data center servers, intelligent vehicles, and AI PCs may also adopt the LPDDR5X for achieving optimized power efficiency and high performance. 'Micron's 1-gamma node-based LPDDR5X memory is a game-changer for the mobile industry. This breakthrough technology delivers lightning-fast speeds and remarkable power efficiency — all within the industry's thinnest LPDDR5X package — paving the way for exciting new smartphone designs. This solution demonstrates our commitment to empowering the ecosystem to create extraordinary mobile experiences.' Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide. Overall, MU ranks 5th on our list of buzzing AI stocks on latest news and ratings. While we acknowledge the potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
a day ago
- Yahoo
Move Over Nvidia, Taiwan Semiconductor, and Micron. Brad Gerstner's Altimeter Capital Just Gave Investors 2,999,536 Reasons to Check Out the Hottest Artificial Intelligence (AI) IPO Stock of 2025
Brad Gerstner is the founder and CEO of hedge fund Altimeter Capital. Some of his more notable wins include being an early investor in data cloud company Snowflake and Asian ridehailing leader Grab. As is the case with many investment funds, Altimeter has made artificial intelligence (AI) stocks a core feature of its portfolio in recent years. According to its most recent 13F filing, Altimeter trimmed its stake in Nvidia during the first quarter while completely dumping its stakes in Micron and Taiwan Semiconductor Manufacturing. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Interestingly, though, I discovered that Altimeter holds a position in red-hot AI IPO stock CoreWeave (NASDAQ: CRWV). This comes from an investment Altimeter made when CoreWeave was still a private company. As of the close of trading on June 4, Altimeter's 2,999,536 shares were worth about $489 million Let's explore some of the core themes in the ongoing AI revolution to try and discern what may have motivated these moves. From there, I'll break down CoreWeave's business and recent price action to help determine if the stock is a good buy right now. Considering how robust demand has been for high-end graphics processing units (GPU) and memory storage chips, reducing exposure to names such as Nvidia, Micron, and Taiwan Semi looks like a head-scratcher on the surface. However, this is not the first time that Gerstner has shown some contrarian characteristics in his investment style. While I cannot say for certain what Altimeter's current thesis is regarding chip stocks or the AI movement more broadly, I've come up with some reasons that may help justify the fund's recent moves. According to industry estimates, Nvidia currently controls roughly 90% (or more) of the data center GPU market. While a lead like that might suggest Nvidia's moat is insurmountable, there are some risks to consider. First, Nvidia's revenue sources are heavily concentrated among cloud hyperscalers such as Amazon, Alphabet, and Microsoft. Each of these companies has been developing their own custom AI chips, potentially signaling their intentions to migrate away from Nvidia's architecture over time. When you layer on top that the fact that Advanced Micro Devices has steadily been gaining momentum in the data center arena -- as its deals with Oracle, Microsoft, and Meta Platforms demonstrate -- Nvidia's growth could be on course for some deceleration. Lastly, one of the storm clouds hanging over Nvidia at the moment is its exposure to China. New U.S. export controls and President Donald Trump's tariffs could cut into its sales there. Micron operates in a unique pocket of the AI realm. It specializes in memory storage chips, which are vital hardware for data centers, personal computers, and smartphones, among other technologies. With that said, memory chips are relatively commoditized. On top of that, a shift toward cloud-based AI infrastructure could potentially serve as a headwind for Micron's hardware-centric chip memory business. Taiwan Semiconductor specializes in fabrication services -- its foundries are where chips designed by Nvidia, AMD, Broadcom, and a host of others are actually manufactured. While demand for GPUs and other types of AI chips is strong, a deceleration in sales growth from key customers (i.e., Nvidia) could trickle down to TSMC's business, too. Furthermore, most of TSMC's factories are located in Taiwan. Given the ongoing geopolitical pressures Taiwan faces from China, it's possible that U.S. chip designers like AMD or Nvidia could begin to turn to alternative foundry providers such as Intel. Image Source: Getty Images. CoreWeave is a cloud computing infrastructure provider that offers its clients access to Nvidia GPUs and a host of other chip integrations. As such, its business is not as exposed to the time it takes to design and manufacture sophisticated hardware -- unlike the names explored above. In a way, this makes the hyperscaler more nimble than other chip and data center stocks, allowing the company to scale at a faster pace. CoreWeave is able to take advantage of the booming chip landscape but more so on the AI training and inferencing side. Ultimately, it fills the gap between producing chipsets and accessing optimized AI cloud infrastructure. It's not that Nvidia, Micron, or TSMC are poor investment choices right now. It's simply that those businesses might be reaching levels of maturity, whereas CoreWeave's model could be in the early phases of exponential expansion. The chart below illustrates how CoreWeave's price-to-sales (P/S) ratio has progressed since its initial public offering (IPO) earlier this year. CRWV PS Ratio data by YCharts There are a couple of big takeaways from this chart. First, it's clear that CoreWeave has experienced notable valuation expansion. In my view, outsize momentum is propelling CoreWeave stock right now -- and buying in the wake of its recent climb could leave you as an unsuspecting bag holder. In addition, CoreWeave's P/S multiple is almost fourfold that of Oracle -- which also provides core data center infrastructure services. Oracle is a mature, profitable business, unlike CoreWeave's high-cash-burn operation. While I understand the thesis behind CoreWeave's value proposition in the AI landscape, I think the stock is overbought right now. I would pass on investing at its current valuation, but would keep tabs on the company and its growth prospects. Before you buy stock in CoreWeave, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and CoreWeave wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor's total average return is 789% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Adam Spatacco has positions in Alphabet, Amazon, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Amazon, Intel, Meta Platforms, Microsoft, Nvidia, Oracle, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft, short August 2025 $24 calls on Intel, and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
Yahoo
a day ago
- Yahoo
Boxing fans head to Canastota for Hall of Fame Induction Weekend
CANASTOTA, N.Y. (WSYR-TV) — In the small Village of Canastota, the International Boxing Hall of Fame is a big deal. The induction weekend brings in thousands of boxing buffs every year, like Lee Groves, who's been coming every year since 1993. 'I'm going to keep going until I drop,' Groves, who's from West Virginia, said. 'There's action, there's passion, their skill. Boxing at the highest level is an art.' The center of the boxing universe welcomes people from all over the world. As for the locals who pass it every day, this weekend is always a knockout win for the economy. Erin's Angels of CNY announces Cruise for Food fundraiser 'One of the local pizzerias says he sells 40 pizzas just in the hour before the parade begins,' Mayor of the Village of Canastota Roseanne Warner said. 'So it's a big impact for the village and we're really proud to have the honor of having the International Boxing Hall of Fame in Canastota.' The village is expecting a bigger crowd than usual for Sunday's parade because actress Sydney Sweeney is the grand marshal. 'So, Sydney Sweeney being Christy Martin, that is wow,' Hall of Fame boxer Christy Martin said. 'I mean she is so hot right now and to have her come here and be part of this weekend is over the top exciting.' Sydney Sweeney is playing Christy Martin in an upcoming biopic about Martin's life. Sunday's Parade of Champions steps off at noon. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.