Micron Announces $2.75 Billion Investment for New Semiconductor Facility in India
Micron Technology (MU) is investing $2.75 billion to establish an assembly and test facility in Sanand, Gujarat, India, as part of its global AI expansion strategy. The new plant will convert advanced DRAM and NAND wafers into finished memory products for international customers. Micron has already begun commercial operations at the site and shipped its first batch of modules to Dell Technologies (DELL). Production is expected to scale significantly in 2026, with output projected to reach hundreds of millions by 2027. The investment aligns with growing demand for memory solutions driven by AI infrastructure development. Micron's stock rose nearly 6% following the announcement on September 17. The company has seen strong performance this year, including a standout third-quarter fiscal report in June that pushed revenue to $41.5 billion and sent shares up almost 16%. MU currently trades at a forward P/E of 6.4x, below both its five-year average and the industry benchmark.
Topics: AI infrastructure India investment Micron Technology semiconductor manufacturing