On January 27, spurred on by the scarcity of memory chips brought about by the rapid advancement of artificial intelligence, Micron Technology (MU.O) has revealed plans to pump an extra $24 billion into Singapore over the next ten years, aiming to bolster its production prowess. As stated in a company announcement, this chipmaker, with its headquarters in Boise, Idaho, will allocate these funds towards constructing a brand-new NAND flash memory factory. On Tuesday, Micron Technology disclosed that this fresh investment is anticipated to generate around 1,600 job opportunities, with wafer production slated to kick off in the latter half of 2028. The upcoming factory will integrate cutting-edge artificial intelligence and automation technologies. Earlier, in early 2025, Micron Technology had already announced its intention to invest $7 billion over the ensuing years to expand its manufacturing footprint in Singapore, in a bid to cater to the escalating demand for sophisticated memory chips required for AI training.