Samuel Boivin | Nurphoto | Getty ImagesMicron shares rose 7% on Thursday as the company announced a new round of investments aimed at boosting the U.S. semiconductor supply chain, and plans to accelerate its spending in the country through 2035. The new strategic investment of up to $3 billion includes $500 million for Taiwanese-headquartered GlobalWafers to expand its wafer development and manufacturing in its Texas facilities, and also comes with a 10-year supply agreement for raw silicon wafer capacity. "Securing a reliable supply of critical input materials is essential to supporting Micron's long-term growth and technology roadmap," said Ben Tessone, Micron's chief procurement officer, in a press release. In a separate announcement, the chipmaker said it will also raise its planned U.S. investment to $250 billion through 2035, roughly a $50 billion increase, as memory demand from the artificial intelligence buildout skyrockets. Other names in the chip space rallied on Thursday, with Applied Materials, KLA Corp and Lam Research up 7%, ARM Holdings up 11%.Read more CNBC tech newsChinese lidar maker with Nvidia ties accused of being cyber risk for U.S.China's Alibaba bans Anthropic AI for employees after 'distillation attack' accusationSpaceX President Gwynne Shotwell to donate stock to Trump AccountsMicrosoft cuts 4,800 jobs, as Xbox unit downsizes and plans to spin off four gaming studioswatch now