Micron signs a deal to acquire a chip foundry in Taiwan for $1.8 billion, though it won’t make a dent in the memory supply crisis until 2027 at the earliest

As the memory supply crisis rages on, manufacturers are continuing to scale up operations in a bid to meet the accelerated demand. The latest memory maker to expand its production line is Micron, which has just signed a letter of intent to acquire Powerchip Semiconductor Manufacturing Corporation’s (PSMC) Tongluo chip foundry in Taiwan.

The company’s statement to its investors clarifies that this includes an existing 300 mm wafer cleanroom measuring 300,000 square feet, though none of the production equipment contained therein. In total, it’s a deal to the tune of $1.8 billion that will encompass more than facilities, with Micron also hoping to establish a long-term business relationship with PSMC.