benzinga36d ago
Micron Technology, Inc. (NASDAQ:MU) shares closed down on Friday as the company celebrated the grand opening of its semiconductor assembly and test facility in India. The move came during a challenging trading day, with major indices like the S&P 500 and Nasdaq also experiencing declines, adding pressure as broader markets edged lower. The facility is designed to meet growing global demand for memory and storage products.The new facility, located in Sanand, Gujarat, represents a significant investment of approximately $2.75 billion by Micron and its government partners. It is expected to scale operations to assemble and test tens of millions of chips in 2026, ramping up to hundreds of millions by 2027, aligning with the increasing demand fueled by advancements in AI technology.Additionally, the facility aims to meet or exceed Leadership in Energy and Environmental Design (LEED) Gold standards, ...Full story available on Benzinga.com