$6.1B CHIPS Act boost for Micron
In a significant push for domestic semiconductor production, the Biden administration has finalised a $6.1B subsidy for Micron Technology.
The US Department of Commerce has finalised a $6.1B subsidy for Micron Technology, marking one of the largest awards under the CHIPS and Science Act. The funds will support the construction of new semiconductor plants in New York and Idaho, with expectations to create at least 20,000 jobs by the end of the decade.
An additional $275M investment has been earmarked for expanding Micron’s Virginia facility, which focuses on producing chips for critical sectors like defense, automotive, and networking. The White House emphasised that this effort aims to strengthen national security by reducing reliance on foreign suppliers, particularly from China and Taiwan.
The Biden administration has made semiconductor independence a priority, providing similar funding to companies like Intel and Taiwan Semiconductor Manufacturing Co. These initiatives aim to secure the US position in global chip production, a vital industry for technological and economic stability.
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