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Micron Lands $6 Billion in Federal Grants To Make Chips in US

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Micron Technology received a grant of up to $6.165 billion grant from the federal CHIPS Act to manufacture semiconductors domestically.
Micron Technology has been awarded up to $6.14 billion in federal grants from the U.S. Department of Commerce under the CHIPS and Science Act to support the construction of new semiconductor manufacturing facilities in the United States. This funding will help Micron build two new fabrication plants in Boise, Idaho, and one in Clay, New York, with plans to invest up to $125 billion over the next two decades. The initiative aims to enhance domestic production of memory chips, reduce reliance on foreign manufacturing, particularly from Asia, and bolster national security by ensuring a stable supply of semiconductors. The project is expected to create over 75,000 jobs, including 20,000 direct construction and manufacturing jobs, and contribute significantly to the local economies of Idaho and New York.

Read the Full Investopedia Article at:
[ https://www.investopedia.com/micron-lands-usd6-billion-in-federal-grants-to-make-chips-in-us-8759009 ]