Micron Technology on Tuesday committed approximately $24 billion to expand its wafer manufacturing operations in Singapore, as the American memory chipmaker moves to expand production amid global shortages.
In a press release, Micron said the investment would add 700,000 square feet of cleanroom space —highly-controlled manufacturing areas designed to prevent contamination — at an existing NAND manufacturing complex.
Production of NAND, a type of memory chip widely used in personal computers, servers and smartphones, is expected to start in the second half of 2028.
Demand for NAND technology has been skyrocketing in recent months, driven by the rapid expansion of artificial intelligence and data-centric applications.
In response to the shortage, Micron and its memory competitors, including Samsung Electronics and SK Hynix, have been increasing output.
Micron operates manufacturing facilities in Singapore as part of its broader Asian production network, which also includes sites in China, Taiwan, Japan, and Malaysia.
The company is also building a $7 billion advanced packaging plant in Singapore to produce high-bandwidth memory, a type of dynamic random-access memory, or DRAM, used in AI applications.