On Tuesday, Micron Technology made an announcement stating that it will channel an extra $24 billion into Singapore over the coming decade. This substantial investment is aimed at constructing a brand-new NAND flash memory factory and significantly expanding its production capacity. This move comes as a direct response to the memory chip shortage that has been triggered by the explosive growth of the AI sector.

The newly planned factory is projected to kickstart operations in the latter half of 2028. Once operational, it will stand out as Singapore's first-ever dual-story wafer fab. This state-of-the-art facility will offer an impressive approximately 700,000 square feet of cleanroom space, which is crucial for maintaining high-quality chip production. Moreover, it is expected to generate around 1,600 job opportunities, contributing positively to the local economy.

NAND flash memory, a cutting-edge storage technology that outpaces traditional mechanical hard drives in terms of speed, is witnessing a continuous surge in demand. This upward trend is closely tied to the rapid acceleration of AI infrastructure construction, as more and more industries and applications rely on AI-powered solutions.