Micron Set to Receive Over $6 Billion in U.S. Grants for Chip Production

The funding aims to boost domestic semiconductor manufacturing, enhancing U.S. competitiveness in the global tech industry.

Micron Technology is slated to receive approximately $6.1 billion from the U.S. Commerce Department to support new semiconductor plants in New York and Idaho.
The grants are part of the CHIPS and Science Act, designed to revitalize American chipmaking and reduce dependency on foreign production.
Micron's expansion includes plans for a massive DRAM fab in New York, expected to create thousands of jobs and significantly increase U.S. chip production capacity.
The funding package may also include loans and is contingent on additional financial incentives like investment tax credits and local subsidies.
President Joe Biden is expected to formally announce the funding next week, highlighting the national significance of boosting domestic semiconductor production.