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In an unexpected turn of events, Micron announced plans to buy Powerchip Semiconductor Manufacturing Corporation’s (PSMC) P5 fabrication site in Tongluo, Miaoli County, Taiwan, for a total cash consideration of $1.8 billion. To a large degree, the transaction would evolve Micron’s long-term ‘technology-for-capacity’ strategy, which it has used for decades. This also signals that DRAM fabs are now so capital-intensive that it is no longer viable…

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