Micron Technology has revealed a $24 billion project to construct a new memory chip production facility in Singapore to increase production in the wake of a global chip shortage triggered by the use of AI and data intensive technologies. The new facility is expected to begin the production of chips in 2028. It will complement Micron’s existing massive operations in Singapore, which include a new packaging facility for AI related memory chips expected to open in 2027. The memory chip shortage is expected to persist for a few more years, despite the efforts of Micron and other manufacturers such as Samsung and SK Hynix to increase production.
Micron Plans $24 Billion Memory Chipmaking Plant in Singapore
