Micron is the chief rival of South Korea’s Samsung and SK Hynix in the memory-chip market.

Semiconductor stocks look poised for further gains as investment in artificial intelligence (AI) infrastructure accelerates.

Jan 27 (Reuters) - U.S. memory chip maker Micron Technology is set to announce new memory chip manufacturing capacity investment in Singapore, three people briefed on the matter said, expanding production in response to an acute global memory shortage.

The US-based memory chipmaker Micron Technology has announced plans to invest $20 billion in a chip manufacturing plant in Singapore in a bid to ease global supply shortfall and boost output.

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ASML represents the most upstream position in the chip sector. The company sell the machines that manufacturers like Taiwan Semiconductor use to make chips. Therefore, demand for its machines should be a leading indicator for production downstream, and that seems to be what's happening here.

The boom in AI data center building has caused a shortage of memory chips which are also crucial for electronics like smartphones.

Oota, 63, will succeed Nobuo Hayasaka, 70, who will become a senior executive adviser. The leadership change will take effect following shareholder approval at the company’s annual meeting scheduled for June,