SINGAPORE - Memory chip giant Micron Technology is building a US$24 billion (S$30.5 billion) plant here to ramp up its production of semiconductors as booming artificial intelligence (AI) demand causes an unprecedented shortage of hardware powering data centres.

The plant, located within the American company’s existing manufacturing complex in Woodlands, will provide an additional 700,000 sq ft of cleanroom space when it becomes operational in the second half of 2028.