Dive Brief:
- Micron Technology announced it will support the expansion of Indium Corp.’s capabilities in Rome, New York, as an investment in critical minerals.
- Indium is a materials refiner, smelter, manufacturer and supplier for the semiconductor and other technology markets. Micron will have access to Indium’s critical minerals per the deal, according to the chipmaker.
- Although the investment amount was not specified, Micron said it is part of its plan to spend up to $3 billion to strengthen the United States’ semiconductor supply chain by developing a reliable domestic source of critical manufacturing materials.
Dive Insight:
Micron has been investing heavily in domestic production capabilities, in part to reduce dependence on other nations and limit potential supply disruptions.
In July, the company announced it was increasing its U.S. commitment to spend more than $250 billion through 2035, prompted by soaring demand for its dynamic random-access memory products. At the time, Micron said it expected the funding would back its long-term goal of producing 40% of its DRAM products in the U.S.
“Advanced memory manufacturing depends on a reliable supply of critical minerals. Enabling that requires engagements well beyond our direct suppliers,” said Ben Tessone, senior vice president and chief procurement officer at Micron, in announcing the deal with Indium.
Demand for Micron’s products has come in large part from the artificial intelligence infrastructure and data center end markets. The company reported record fiscal fourth quarter and fiscal full-year 2026 results, including $54.2 billion in Q4 revenue, compared to $41.5 billion in Q3.
The company expects an even stronger fiscal 2027, Chairman and CEO Sanjay Mehrotra said in a Sept. 30 statement. “We are increasing our investments in technology, products and manufacturing to help drive [AI] forward with our customers, and our Strategic Customer Agreements provide added confidence in the durability of Micron’s financial performance,” he said.
