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Micron to Invest Up to $3 Billion in US Semiconductor Supply Chain; Shares Rise Pre-Bell

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Micron Technology (MU) plans to invest up to $3 billion in the US semiconductor supply chain, the company said Thursday.

As part of the investment plan, the company will provide $500 million in financial backing to GlobalWafers for a 300mm raw silicon wafer manufacturing facility in Texas in a deal that includes a 10-year supply agreement for Micron.

The two companies also plan to collaborate on developing new wafer technologies.

Shares of Micron rose more than 6% in recent premarket activity Thursday.

Price: $1

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