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US Finalises More Than $6.1 Billion Chips Subsidy for Micron Technology

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The US Department of Commerce has finalised a subsidy of more than $6.1 billion for memory chip maker Micron Technology to support the construction of several domestic semiconductor facilities, according to a White House statement on Tuesday.
The U.S. Department of Commerce has finalized a deal to provide Micron Technology with over $6.1 billion in subsidies to support the construction of new semiconductor manufacturing facilities in New York and Idaho. This initiative is part of the broader CHIPS and Science Act, aimed at boosting domestic semiconductor production. The funding will help Micron build a significant manufacturing hub in Clay, New York, and expand its operations in Boise, Idaho, with the goal of creating thousands of jobs and enhancing U.S. competitiveness in the global semiconductor market. The project is expected to start construction in 2025, with production potentially beginning by the end of the decade.

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