Micron starts $9.3 billion Hiroshima expansion for advanced memory and HBM

The project is valued at about $9.3 billion and is backed by substantial Japanese government support. The expansion strengthens Micron's role as a remaining overseas DRAM manufacturer with production in Japan and gives Tokyo another anchor for advanced memory supply. The site is strategically important because it has already been tied to Micron's HBM work, and the new investment points to a longer runway for AI-focused memory capacity rather than an immediate supply surge. For buyers, the key takeaway is that HBM supply growth remains capital intensive and slow to arrive, with new equipment not expected until late 2028.