India, July 9 -- Micron Technology announced on Thursday that it plans to invest more than $250 billion in the United States by 2035. The company said the investment will help expand chip manufacturing in the country. The company said the decision is driven by the huge demand for memory chips because of the AI boom. More companies are building AI systems, increasing the need for advanced memory chips.

Micron also said the investment supports President Donald Trump's push to increase semiconductor manufacturing inside the United States. The new investment plan is $50 billion higher than the $200 billion plan Micron announced in June last year. The $200 billion commitment itself had already been increased by $30 billion from Micron's earli...