Micron Technology Shares Jump on Plan to Build Second Memory Chip Site in Taiwan
By Joe Stonor
Micron Technology shares rallied in premarket trade after the company said it would build a second site in Taiwan to manufacture highly sought-after artificial-intelligence memory products.
The stock rose 4%, or $17.16, to $443.29 in early European trade Monday, making it the sharpest riser in the S&P 500 premarket.
The Boise, Idaho-based chip giant said the facilities would boost its manufacturing capacity for in-demand DRAM and high-bandwidth memory products.
The site, acquired from Powerchip Semiconductor Manufacturing Corp., includes 300,000 square feet of existing cleanroom space--the controlled area in which memory chips are produced.
Shipments from the site will begin in fiscal 2028, the company said.
Construction on another similarly proportioned site is set to begin before the end of the 2026 fiscal year, Micron added.
AI memory is a hot commodity, with prices surging in recent months. The share prices of a clutch of specialist companies surged alongside memory. Stock in South Korea's SK Hynix has gained 50% so far this year.
Micron is set to announce fiscal second-quarter earnings after market close on Wednesday.
Write to Joe Stonor at josephmichael.stonor@wsj.com
(END) Dow Jones Newswires
March 16, 2026 07:28 ET (11:28 GMT)
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