Shares of TTM Technologies fell after the company said it would invest $400 million to expand capacity at several of its manufacturing plants in Asia.

The stock declined 9.6% to $109.42 Monday. Despite the loss, shares are up about 55% year to date.

The technology-products manufacturer before the bell said its $400 million investment would expand capacity across four facilities in China, as well as one of its plants in Malaysia.

The expansion is in addition to TTM Technologies' previously disclosed commitment to invest $1.2 billion between 2025 and 2029, the company said. The planned investments aim to support the surge in artificial-intelligence infrastructure demand, it added.

"The AI boom has increasingly placed significant demands for capacity within the AI hardware supply chain," Chief Executive Edwin Roks said. "The rapid growth in demand requires us to make rapid capacity increases across several of our facilities."