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Micron Technology (MU) Well-Positioned With New P5 Site Acquisition

Micron Technology Inc. (NASDAQ:MU) is one of the 10 best AI chip stocks to buy according to hedge funds.

On March 15, Micron Technology Inc. (NASDAQ:MU) made the announcement of its acquisition of the P5 site of Powerchip Semiconductor Manufacturing Corporation on March 15 after signing the agreement on January 17, 2026. The new site would act as an extension of Micron’s vertically integrated mega campus in Taichung, which is about 15 miles away, along with nearly 300,000 sq. ft. of cleanroom capacity for the 300mm wafers.

Copyright: believeinme33 / 123RF Stock Photo

Construction of the retrofit for the existing cleanrooms begins immediately after the deal closing, and product shipments are anticipated starting in fiscal 2028. Moreover, Micron Technology is also planning to continue its expansion plans with the construction of another similar site at Tongluo before the end of fiscal 2026, which will add approximately 270,000 sq. ft. of cleanroom area to the new facility.

The purpose of the new facility is to produce advanced DRAM products, such as HBM, to meet the rising demands due to increased AI usage. Speaking at the event, Executive Vice President of Global Operations Manish Bhatia expressed his views regarding the importance of the memory for product performance and said that the new facility gives Micron a stronger edge towards exploiting future opportunities.

Micron Technology Inc. (NASDAQ:MU) is engaged in the development of storage and memory solutions. It offers products such as high-bandwidth memory, CXL-based memory, graphics memory, and LPDDR components and modules. The company also provides various types of multichip packages (MCP), such as flash storage-based, multimedia card-based, and NAND-based MCPs.

While we acknowledge the risk and potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MU and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

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  • 175 Teslas
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  • 140 Metas
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  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
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