WASHINGTON (dpa-AFX) - Micron Technology (MU) announced plans to invest up to $3 billion to strengthen the U.S. semiconductor supply-chain ecosystem. The company will provide GlobalWafers Co., Ltd. with $500 million in strategic financing support to advance the development and manufacturing capabilities of its GlobalWafers America 300mm raw silicon wafer manufacturing facility in Sherman, Texas. The companies will also enter into a 10-year supply agreement that will provide Micron with access to significant raw silicon wafer capacity to support its long-term manufacturing plans.
Also, Micron and GlobalWafers intend to explore collaboration on next-generation wafer technologies and process innovations to support future semiconductor manufacturing requirements.
In pre-market trading on NasdaqGS, Micron shares are up 6.24 percent to $1,008.00.
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