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Micron announces $15 billion investment in new Idaho plant

Yahoo Finance's Akiko Fujita discusses how Micron stock is moving after the company announced a $15 billion investment in a plant in Boise, Idaho.

Video Transcript

AKIKO FUJITA: Well, let's take a look at shares of Micron Technology moving lower, even as the company announces a $15 billion plan to invest in a new chip manufacturing plant. The chip maker said the new factory will be in Idaho and will create 2,000 new jobs for Micron.

The announcement comes just weeks after President Biden signed a bill setting aside billions of dollars in incentives to spur domestic manufacturing of semiconductors. Micron said the Idaho plant will be the first new memory manufacturing fab built in the US in two decades. It is part of the company's broader plan to invest more than $150 billion globally to expand its manufacturing footprint.