Micron Invests $24 Billion in New Singapore Chip Factory
- Micron Technology will invest $24 billion to build a chip manufacturing plant in Singapore, the American memory chip maker announced today.
- Technology companies are racing to build infrastructure for AI,creating significant demand - adn a severe shortage - of all types of memory chips,according to Reuters.
- The new facility will be one of the largest of its kind in Singapore.
Micron Technology will invest $24 billion to build a chip manufacturing plant in Singapore, the American memory chip maker announced today. The move aims to boost production amid a global chip shortage, especially for components needed for artificial intelligence.
Technology companies are racing to build infrastructure for AI,creating significant demand - adn a severe shortage – of all types of memory chips,according to Reuters.
The new facility will be one of the largest of its kind in Singapore. Micron expects the plant will create significant employment opportunities. Construction is slated to begin in 2024, with production starting in the late 2020s.
This investment follows similar announcements from other chipmakers seeking to expand capacity in response to growing global demand. The U.S. and other nations are also offering incentives to encourage domestic chip production.
More information is available in Micron’s press release.