Micron Technology has announced plans to invest around $24 billion to expand its wafer manufacturing operations in Singapore, as rising demand from artificial intelligence continues to strain the global memory supply. 

According to the company, the investment will add about 700,000 square feet of cleanroom space at its existing NAND manufacturing complex in Singapore. These cleanroom facilities are critical for chip production, as they maintain highly controlled environments to prevent contamination. 

Production of NAND memory chips is expected to begin in the second half of 2028. NAND is widely used in personal computers, servers, and smartphones, and demand for this technology has increased sharply in recent months. 

The surge in demand is largely driven by the rapid growth of AI and data heavy applications, which require large volumes of memory. To address supply constraints, Micron and other major memory manufacturers such as Samsung Electronics and SK Hynix are increasing their production capacity. 

Singapore remains a key part of Micron’s manufacturing network in Asia, alongside facilities in China, Taiwan, Japan, and Malaysia. In addition to the NAND expansion, Micron is also developing a $7 billion advanced packaging plant in Singapore to produce high bandwidth memory used in AI applications.