Elpida to build 300mm fab in China

What is a fab?
Informal term for a semiconductor fabrication facility or manufacturing plant.

What is a wafer?
The base unit of chipmaking. A thin circular slice of a semiconducting material, such as pure silicon, on which an IC can be formed.

What is DRAM?
Dynamic random access memory (DRAM) is a type of random access memory that stores each bit of data in a separate capacitor within an IC. Since real capacitors leak charge, the information eventually fades unless the capacitor charge is refreshed periodically. Because of this refresh requirement, it is a dynamic memory as opposed to SRAM and other static memory. And unlike non-volatile firmware chips, both DRAM and SRAM lose their content when the power is turned off.