Western Digital Corp (NASDAQ:WDC) shares are moving higher Thursday as a pair of major developments stoke fresh enthusiasm across the memory chip space pulling storage and semiconductor names broadly higher.
- Western Digital stock is among today’s top performers. What’s fueling WDC momentum?
Micron’s $250 Billion U.S. Investment Commitment Lifts Memory Names
The session’s tailwind is coming from two directions. Micron Technology Inc (NASDAQ:MU) announced it will accelerate its U.S. fabrication and technology investments to more than $250 billion through 2035 driven by surging AI-related memory demand while also marking the first concrete pour at its Clay, New York fab ahead of schedule. The company said the expanded commitment supports a goal of producing 40% of its DRAM domestically and is expected to support more than 90,000 jobs nationwide.
The announcement reinforced the broader narrative that memory is becoming a critical bottleneck in the AI infrastructure buildout lifting names across the space including Western Digital.
Meta’s Computing Expansion is Fueling Memory Demand
The second catalyst comes from Meta Platforms Inc (NASDAQ:META). An internal memo reviewed by Reuters revealed the company plans to expand its computing infrastructure to seven gigawatts this year before doubling that figure to 14 gigawatts in 2027. To support that buildout Meta has locked in long-term supply agreements across several hardware categories including a deal with Samsung Electronics for memory chips, according to Reuters.
The scale of Meta’s AI infrastructure ambitions is adding to concerns about memory supply tightness a dynamic that is broadly supportive of pricing and demand across the memory ecosystem.
WDC Shares Are Soaring
WDC Price Action: Western Digital shares were up 5.74% at $581.87 at the time of publication on Thursday, according to Benzinga Pro.
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