Micron is planning to invest $24 billion to boost memory chip manufacturing capacity in Singapore with the construction of a new chip fab.

The company announced today (January 27), at a groundbreaking ceremony, that it was planning to build the facility over the next decade to help meet the growing demand for NAND memory chips.

The new fab will provide 700,000 square feet (65,032 sqm) of cleanroom space, with wafer output expected to begin in the second half of 2028. It sits in the same complex as Micron’s previously announced High-Bandwidth Memory (HBM) advanced packaging facility, with this new site set to be the company’s first double-story fab.

In a statement, Micron said the investment would support the creation of around 1,600 jobs, bringing the total of new jobs in the region to 3,000 when combined with the roles created by the aforementioned HBM fab. The company broke ground on its $7bn HBM facility in Singapore in January 2025, with operations at that site scheduled to begin in 2026.

“Micron’s leadership in advanced memory and storage is enabling the AI-driven transformation reshaping the global economy,” said Manish Bhatia, EVP of global operations at Micron. “This investment underscores Micron’s long-term commitment to Singapore as an important hub in our global manufacturing network, enhancing supply chain resiliency and fostering a vibrant ecosystem for innovation.”

The announcement comes a month after Micron announced plans to exit the consumer memory and storage market in favor of AI data center customers. Earlier this month, the Wall Street Journal reported that data from TrendForce shows that up to 70 percent of the memory produced worldwide in 2026 will be consumed by data centers.

On January 16, 2026, the company broke ground on a $100 billion semiconductor fab campus in Onondaga County, New York. Consisting of four fabs when fully built, the so-called megafab is expected to be the largest semiconductor facility in the US once complete, and will house “the most advanced memory manufacturing in the world.”

That same week, Micron announced it had signed a Letter of Intent (LOI) to acquire Powerchip Semiconductor Manufacturing Corporation’s (PSMC) P5 fabrication site in Tongluo, Taiwan, for $1.8bn.