(Bloomberg) -- Micron Technology Inc. is investing $7 billion over the next several years to expand its manufacturing footprint in Singapore, as artificial intelligence boosts demand for advanced memory chips.
The US company broke ground on a new facility in the city-state on Wednesday, saying the plant is set to start operating in 2026. It will be used to package high-bandwidth memory chips, a type widely seen in AI data centers, and create about 1,400 jobs.
Micron is among chipmakers and other technology companies betting on Southeast Asia, seeking new markets and expanding their operations beyond China and Taiwan to lessen their exposure to tensions between Washington and Beijing. NXP Semiconductors NV and a firm backed by Taiwan Semiconductor Manufacturing Co. are building a $7.8 billion wafer plant in Singapore.
“The launch of this facility will further strengthen Singapore’s local semiconductor ecosystem and innovation,” Micron said in a statement. “Micron’s future expansion plans in Singapore will also support long-term manufacturing requirements for NAND,” the company said, referring to semiconductors that store information in everything from data-center computers to smartphones.
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