Micron Technology announced up to $3 billion in new domestic semiconductor investments, including $500 million for supplier GlobalWafers, and raised its total planned U.S. spending to $250 billion through 2035, as AI-driven memory demand continues to reshape the chipmaker's capital plans.
Micron Technology shares rose almost 5% on Thursday after the Idaho-based memory chipmaker announced a new round of domestic investments totaling up to $3 billion and raised its total planned U.S. spending to $250 billion through 2035 — an increase of roughly $50 billion from its prior commitment.
The expansion reflects the accelerating demand for memory chips tied to artificial intelligence infrastructure, which has reshaped investment timelines across the semiconductor industry.
The largest single commitment in the new round is $500 million earmarked for GlobalWafers, a Taiwanese-headquartered supplier, to expand wafer development and manufacturing at its Texas facilities. The deal also includes a 10-year supply agreement covering raw silicon wafer capacity.
"Securing a reliable supply of critical input materials is essential to supporting Micron's long-term growth and technology roadmap," said Ben Tessone, Micron's chief procurement officer, in a press release.
The announcements arrive as Micron pursues an ambitious domestic buildout. Construction is underway on two new fabrication plants in Boise, Idaho, the company's headquarters city. On Thursday, Micron poured the first concrete at a new facility in Clay, New York — a site the company described in a release as the largest semiconductor manufacturing site in U.S. history.
Micron's shares have climbed almost 250% in 2026, and the company crossed a $1 trillion market capitalization for the first time in May, underscoring the degree to which AI-driven memory demand has transformed its financial profile.
The announcement lifted other names in the chip sector as well. Applied Materials, KLA Corp, Lam Research, and ARM Holdings all posted gains on Thursday.
Micron's domestic spending drive comes alongside a parallel set of developments in the broader memory market. South Korean rival SK Hynix is set to begin trading on the Nasdaq on Friday through American depositary receipts, in an offering of roughly $26.5 billion that is expected to rank among the largest ever. SK Hynix's shares listed in South Korea have surged approximately 2,550% since ChatGPT launched in November 2022, pushing its market value above $1 trillion.
Despite that rally, the memory sector has seen notable volatility. SK Hynix shares have fallen about 25% from their June 25 peak, joining a broader sell-off that has also weighed on Samsung and Micron even as both companies have delivered strong earnings.
The memory market's cyclical history remains a concern for analysts and investors. Historically, periods of strong demand have been followed by supply gluts that sharply compress margins — a pattern that AI spending has so far interrupted but not necessarily broken.
At the same time, the Federal Reserve's newly formed AI task force is expected to grapple with questions about how AI-driven demand is already affecting prices. New York Fed President John Williams said Thursday he was concerned about price increases in electricity and semiconductors stemming from the AI buildout, noting that some component costs have doubled or tripled in a pattern he described as a "hockey stick."
For Micron, the more immediate question is whether the capital commitments it is accelerating through 2035 will be matched by continued demand growth — or whether the current AI infrastructure cycle will moderate before those facilities come fully online.
Sara Montes de Oca is the Editor in Chief of TechEchelon. Previously a correspondent and producer in Washington, D.C., covering business, finance, and politics.
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