Micron Unveils $24 Billion Singapore Investment to Boost Chip Output

In a decisive move to address a critical global shortage, U.S. memory chipmaker Micron Technology has announced a monumental $24 billion investment to build a new advanced manufacturing plant in Singapore. This strategic expansion targets the soaring demand for NAND memory chips, which has been fueled primarily by the relentless growth of artificial intelligence and data-centric applications worldwide.

The new wafer fabrication facility, set to begin production in the second half of 2028, represents a long-term commitment that will unfold over the coming decade. This project will significantly increase Micron’s global output from Singapore, a country where the company already manufactures the vast majority of its flash memory chips. Furthermore, this news follows Micron’s ongoing construction of a separate $7 billion advanced packaging plant in Singapore, which is dedicated to producing high-bandwidth memory (HBM) for AI chips and remains on schedule for a 2027 start.

This announcement arrives amid an intense industry-wide scramble to bolster production capacity, as a severe scarcity of memory chips squeezes sectors from consumer electronics to cloud services. Key rivals like South Korea’s Samsung and SK Hynix are also accelerating their own expansion plans in a parallel race to meet demand. Analysts from firms like TrendForce warn that the supply shortfall could persist, noting that contract prices for enterprise storage are projected to rise dramatically due to insatiable demand from major cloud providers building out AI infrastructure.

By making this colossal investment, Micron is not only strengthening its own supply chain but also solidifying Singapore’s pivotal role in the global semiconductor landscape. The dual expansion in fabrication and advanced packaging positions the company to better serve the structural, long-term needs of an economy increasingly powered by artificial intelligence.