Micron Technology Secures Japan’s Approval for $9.6B Memory Chip Plant, Boosting Stock
Micron Technology's shares surged 2.70% following Japan's approval of a ¥1.5 trillion ($9.6 billion) investment for a next-generation memory chip plant in Hiroshima. The facility will focus on producing advanced DRAM and high-bandwidth memory (HBM) chips, critical for AI infrastructure, with mass production slated for 2027.
Japan's government is subsidizing roughly 36% of the project cost, amounting to ¥536 billion ($3.63 billion), as part of its strategy to revive its semiconductor industry. This MOVE aligns with growing global demand for high-performance memory driven by AI advancements.
Micron's revenue beats and strong AI memory demand further solidify its long-term growth trajectory. The Hiroshima plant underscores the company's commitment to leading the next wave of memory innovation.
