Why Micron Stock Surged Today
Yahoo Finance ·
Shares of Micron Technology ( MU +4.55% ) rallied on Thursday after the memory chip maker highlighted its plans to bolster its semiconductor supply chain. Micron intends to invest up to $3 billion to expand its U.S. production network and secure the materials it needs to satisfy the booming artificial intelligence (AI)-driven demand for its memory chips. As part of those plans, Micron will contribute $500 million in strategic financing to semiconductor supplier GlobalWafers to expand its silicon wafer manufacturing site in Texas.
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