Micron shares rise on $3B US semiconductor supply chain investment

The concern includes $500 cardinal successful strategical financing enactment for GlobalWafers to beforehand improvement of its GlobalWafers America 300mm earthy silicon wafer manufacturing installation successful Sherman, Texas.

The companies besides program to participate into a 10-year proviso statement that would supply Micron with entree to further earthy silicon wafer capacity.

Micron said the concern is intended to amended proviso assurance, summation semipermanent readying flexibility and enactment request for precocious representation and retention solutions driven by artificial quality and different data-intensive applications.

"Securing a reliable proviso of captious input materials is indispensable to supporting Micron's semipermanent maturation and exertion roadmap," Ben Tessone, elder vice president and main procurement serviceman astatine Micron, said successful a statement.

GlobalWafers CEO Doris Hsu added that the concern with Micron would enactment the enlargement of section semiconductor manufacturing capabilities and fortify proviso concatenation resilience successful the US.

Micron and GlobalWafers besides program to research collaboration connected next-generation wafer technologies and process innovations.

The projected transaction remains taxable to definitive agreements, customary approvals and closing conditions.

The quality besides lifted shares crossed the broader semiconductor sector, with Advanced Micro Devices Inc (NASDAQ:AMD, XETRA:AMD) gaining 7%, Qualcomm Inc (NASDAQ:QCOM, XETRA:QCI) rising 4%, Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM) advancing 3%, Broadcom Inc (NASDAQ:AVGO, XETRA:1YD) up 2% and Applied Materials Inc (NASDAQ:AMAT, XETRA:AP2) climbing 6%.