Micron Technology launches $9.3 billion AI memory plant in Japan

Micron Technology broke ground on July 4 at its Hiroshima factory, beginning a $9.3 billion (about 1.5 trillion yen) expansion that will produce high‑bandwidth memory (HBM) chips used in AI accelerators. The Japanese government will subsidise up to roughly one‑third of the cost, with subsidies of up to 500 billion yen. Commercial shipments are expected in the summer of 2028, targeting the growing demand for AI‑driven GPUs.

In its fiscal third quarter 2026, Micron reported record revenue of $41.46 billion, a 345 % year‑over‑year increase, and adjusted earnings of $25.11 per share. AI‑related data‑center sales now account for more than half of total revenue, and the company has sold out HBM capacity through 2026 under long‑term contracts. Wall Street analysts have raised price targets to $1,500‑$2,000. Micron also signed long‑term memory‑supply agreements with automakers Ford and General Motors to support next‑generation vehicle electronics.