$100B! Micron Breaks Ground on New York Memory Fab

On January 7 local time, Micron Technology announced that it will hold a groundbreaking ceremony on January 16 at 1:00 p.m. in Onondaga County, New York, marking the official start of what it calls the largest semiconductor manufacturing project in U.S. history. Valued at up to USD 100 billion, the site will be celebrated alongside Micron executives and U.S. federal and New York State leaders.

Micron said the project represents the largest private investment ever made in New York State and is designed to become one of the world's most advanced memory semiconductor manufacturing hubs. The planned campus may eventually include up to four fabs, with a strong focus on supporting the rapidly growing demand for artificial intelligence systems.

The company originally announced the New York fab plan in October 2022, targeting a mid-2024 construction start. However, the timeline was pushed back by around 18 months due to an extensive environmental review process spanning roughly 20,000 pages. Micron now plans to complete tree clearing at the site by March 31, followed by rail spur construction and wetland preparation.

According to current plans, Micron aims to bring its first New York fab online by 2030, with a second fab opening three years later. By the time the fourth fab is completed around 2045, total employment at the site is expected to reach about 9,000 people. Micron CEO Sanjay Mehrotra expressed strong confidence in the long-term strategy, noting that as the global economy enters the AI era, leadership in advanced semiconductors will be critical to innovation and economic growth. He added that the investment will further strengthen Micron's position as the only U.S.-based memory manufacturer.

The New York project is widely expected to reshape the AI memory ecosystem in the United States. During the Biden administration, Micron secured approximately USD 5.5 billion in incentives under the CHIPS Act, which played a key role in moving the investment forward. When the plan was first unveiled, Micron described it as part of a broader strategy to raise the share of advanced DRAM produced in the U.S. to 40% of global output within the next decade.

Market data from Counterpoint Research shows that in the third quarter of 2025, Micron held a 21% revenue share of the global HBM market, ranking behind SK hynix at 57% and Samsung Electronics at 22%. In the overall DRAM market, including HBM, the same period saw SK hynix at 34%, Samsung at 33%, and Micron at 26%. If Micron succeeds in lifting its market share to around 40% with continued policy support, it could potentially move into the top position in the global memory industry.