US finalizes more than $6.1 billion chips subsidy for Micron Technology

Science and Technology Science and Technology

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US finalizes more than $6.1 billion chips subsidy for Micron Technology

^{Published on 2024-12-10 06:22:25 - Yahoo}

The commerce department and Micron have also agreed to preliminary terms for an additional investment of $275 million to expand the chipmaker's facility in Manassas, Virginia, which primarily manufactures chips sold in the automotive,

The U.S. government has finalized a rule to provide over $6.1 billion in subsidies to Samsung Electronics for the construction of a chip manufacturing facility in Texas. This initiative is part of the broader CHIPS and Science Act, aimed at boosting domestic semiconductor production. The funding will support Samsung's project in Taylor, Texas, which includes building two logic fabs, an advanced packaging facility, and a research center. The project is expected to create approximately 21,500 jobs, including 17,000 construction jobs and 4,500 manufacturing roles. This move is intended to enhance U.S. competitiveness in the global semiconductor market, reduce reliance on foreign chips, and strengthen national security by ensuring a stable supply of semiconductors.

Read the Full Yahoo Article at:
[ https://www.yahoo.com/tech/us-finalizes-more-6-1-111553002.html ]

N@N

US finalizes more than $6.1 billion chips subsidy for Micron Technology