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Micron Boosts US Investment Commitment to $250B Through 2035, Stock Surges 7%

GateNews
MU6.84%
On Thursday, Micron Technology increased its U.S. investment commitment to $250 billion through 2035, with MU shares jumping 7% following the announcement. The chipmaker laid the foundation for its new manufacturing facility in Clay, New York, ahead of schedule, supporting its goal of producing 40% of its DRAM domestically. Additionally, Micron will invest $3 billion in Texas and provide silicon wafer supplier GlobalWafers with $500 million in financing to expand its 300-millimeter wafer facility, from which Micron will source materials for 10 years.
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