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Micron to Spend Up to $100 Billion on Chip Factory in New York State

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A technician works at Micron Technology’s automotive chip-manufacturing plant in Manassas, VA.

Credit: Steve Helber/Associated Press

Micron Technology Inc. has agreed to invest as much as $100 billion to build a semiconductor-manufacturing campus in upstate New York, adding to a wave of chip-making plans in the U.S. as Washington tries to boost domestic manufacturing of those critical components.

The chip maker said Tuesday that it intends to build the largest semiconductor-fabrication facility in the U.S., with production at the Clay, NY, plant starting later in the decade.

Micron's spending plan underscores how the chip industry is trying to balance near-term belt tightening amid economic turmoil with a belief in the long-term demand for semiconductors. Micron recently has been slashing near-term capital spending to deal with slumping consumer appetite for personal computers and smartphones this year. That caused the company's sales to drop in the most recent quarter, and it said capital spending for its current fiscal year 30% lower than a year earlier to deal with oversupply.

From The Wall Street Journal
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