Fab capacity expansion (global)
Net capex was $27.37 billion in fiscal 2026 and is set to rise, with about $11.5 billion expected in calendar Q1 2027 and about $25 billion in the first half of 2027.
The numbers
What it is
Micron fab build-out across the US, Japan, Singapore and Taiwan, including the Idaho, New York, Manassas (Virginia), Hiroshima, Singapore NAND and Tongluo (Taiwan) sites. Direct funding agreements with the US government for the Idaho and New York fabs were amended in June 2025 to expand investment.
Why it matters to the stock. New wafer capacity sets how much supply Micron can add after 2026. Capex guidance is a read on management's view of the cycle and of future bit growth.
News
Micron Taiwan investment tops NT$1.6 trillion; second Taichung HBM packaging plant set to start mid-October
Micron Taiwan said at a media event on October 1, 2026 that its investment in Taiwan has passed NT$1.6 trillion, about US$50 billion, with roughly half of that made in the past four years.
Micron plans about $25 billion of capex in fiscal H1 2027 and more than $50 billion for the year
On the fiscal Q4 2026 call, Micron said first-half fiscal 2027 capital spending would be about $25 billion and that full-year spending is on track to exceed $50 billion, against $27.37 billion in fiscal 2026.
Micron says it is working with Nvidia on a custom HBM4E product called NV-HBM
On the fiscal Q4 2026 call, Micron said it is working with Nvidia on a custom HBM4E implementation it calls NV-HBM, for next-generation GPUs and NVLink Fusion platforms.
Micron pours first concrete for first of four fabs at Clay, New York
Micron poured the foundation for the first of four planned fabs at its Clay, New York campus on July 9, 2026, moving the site from preparation into vertical construction.
Micron commits up to $3 billion to US chip supply chain, including $500 million for GlobalWafers
Micron said it will put up to $3 billion into the US semiconductor supply chain.
Micron starts 1-alpha DRAM production at its Manassas, Virginia fab
Micron has started 1-alpha DRAM manufacturing at its Manassas, Virginia fab, the most advanced memory node it has made in the United States.
Micron reports expiration of cash tender offers for six senior note series
Micron's cash tender offers for six series of senior notes, which began on March 25, 2026, expired and the result was announced on April 1, 2026.
Micron lifts fiscal 2026 capex by about $5 billion to more than $25 billion
Micron raised its fiscal 2026 capital spending plan by about $5 billion to more than $25 billion, and said spending would rise further in 2027.
Micron falls about 4% to $444.19 after fiscal Q2 report on capex and sell-the-news
Micron closed at $444.19 on March 19, 2026, down about 4% after its record fiscal Q2 report.
Micron plans a second Tongluo fab of similar scale, with construction by end of fiscal 2026
Micron plans a second expansion phase at its Tongluo, Taiwan site, a new facility of similar scale to the P5 site.
Micron completes acquisition of PSMC's P5 fab site in Tongluo, Taiwan
Micron announced on March 15, 2026 that it had formally completed the acquisition of Powerchip Semiconductor's P5 site in Tongluo, Taiwan.
Micron breaks ground on $100 billion New York megafab campus
Micron held a groundbreaking on January 16, 2026 for a planned $100 billion campus of up to four DRAM fabs in Onondaga County, New York.