$9.3B Japan Factory Expansion Assert Micron Technology Inc. (MU) as a Top AI Stock on Wall Street Radar Micron Technology Inc. (NASDAQ:MU) is one of the AI stocks on Wall Street’s radar.
On July 4, Bloomberg reported that Micron has broken ground on the expansion of a factory in Western Japan
The $9.3 billion investment is part of the company’s push to expand capacity for advanced memory chip production. Posonskyi Andrey/ Japan’s Ministry of Economy, Trade, and Industry has already allocated up to ¥500 billion to cover construction costs. The expansion will help Micron increase power and transmission efficiency in chips for AI services and self-driving cars.
The funds will also support research and development. The company plans to build a facility in Hiroshima to capitalize on the growing demand for high-bandwidth memory, which is crucial to artificial intelligence processors. Shipments from the facility are expected to start in the summer of 2028.