Micron funds New York minerals processing to secure chipmaking supplies

Micron is putting money into the materials supply behind advanced memory chips. On October 20, 2026, it announced funding for Indium Corporation’s refining and manufacturing expansion in Rome, New York. A planned long-term supply agreement would give Micron access to high-purity minerals, linking the investment to its own future manufacturing needs.

Funding the refining, then securing the output

Micron says the expansion is intended to restart domestic processing of critical minerals essential to advanced semiconductor manufacturing. The work is at the materials stage of chip production: refining minerals and manufacturing high-purity inputs, rather than adding a facility that makes finished memory chips.

Micron did not disclose the investment amount, the specific minerals covered, production volumes or a restart date.

Advanced memory manufacturing depends on a reliable supply of critical minerals. Enabling that requires engagements well beyond our direct suppliers.

Ben Tessone, Micron senior vice president and chief procurement officer

Reducing dependence on concentrated refining

Micron’s stated objective is to reduce reliance on concentrated global refining capacity. It frames domestic processing as both a supply-security measure and a national security priority.

His explanation places the investment beyond routine purchasing from direct suppliers: Micron is helping finance the processing capability on which future materials supply would depend.

One investment within a larger U.S. plan

The Indium funding falls under Micron’s plan, announced in July, to invest up to $3 billion in the U.S. semiconductor supply chain. That figure is the ceiling for the broader plan, not the disclosed value of this transaction. Micron says the program is intended to secure reliable domestic supplies of critical manufacturing materials.

Micron also connects the agreement to its U.S. factory and technology investment plans, with expected spending of more than $250 billion through 2035. It says a stronger domestic materials base—including processing in the same state as its New York factory complex—would help meet growing memory demand driven by AI.