The U.S. Department of Commerce has finalized a subsidy of $6.165 billion for Micron Technology, aimed at supporting the construction of several domestic semiconductor facilities. This substantial funding is part of the 2022 CHIPS and Science Act, designed to bolster U.S. chip production and reduce reliance on foreign supply chains.
The grant will underpin Micron's long-term investment strategy, which includes plans to deploy approximately $100 billion in manufacturing in New York and $25 billion in Idaho over two decades. These investments are projected to create at least 20,000 jobs, significantly enhancing the domestic semiconductor workforce.
Additionally, the Commerce Department has reached a preliminary agreement to award Micron up to $275 million in funding to expand and modernize its facility in Manassas, Virginia. This expansion aims to bring more advanced DRAM technology to the United States, further boosting wafer production capabilities for defense, aerospace, automotive, and industrial sectors.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.