Texas Instruments Inc. (NASDAQ: TXN) announced on Wednesday that it has agreed to pay $900 million for Micron Technology Inc.’s (NASDAQ: MU) 300-mm semiconductor facility in Lehi, Utah.
What happened was this: The sale is expected to be completed by the end of 2021, according to the two corporations. The investment is part of Texas Instruments’ long-term capacity planning, with the factory expected to generate revenue in early 2023.
Also see: In Memory Chips, There Is A Supply-Demand Gap Triggers Micron Upgraded by Analysts
Why Does It Matter? Texas Instruments will build its fourth 300-mm chip plant in Lehi. In addition, the plant will begin producing analog and embedded processing devices in 65-nm and 45-nm processes.
Micron Technology said in March that it plans to sell the Lehi facility and stop producing a certain type of memory chip there. The CXL interface will now enable the company to pursue the development of new memory solutions for data centers.
Micron Technology also posted third-quarter profits that topped analysts’ expectations on Wednesday.
Continue reading: CCIV, Micron, and Cuentas — Three stocks to keep an eye on today, based on the high level of interest from retail investors
(C) 2021 Benzinga.com, photo by deepsonic on Flickr. Benzinga does not offer financial advice. All intellectual property rights are reserved./nRead More