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


Published on 2024-12-10 08:02:15 - Channel NewsAsia Singapore
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  • The US Department of Commerce has finalised a subsidy of more than US$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 (Dec 10).

The U.S. government has finalized a deal to provide Micron Technology with up to US$6.14 billion in subsidies to support the construction of new semiconductor manufacturing facilities in New York and Idaho. This funding, part of the CHIPS and Science Act, aims to bolster domestic chip production, reduce reliance on foreign manufacturing, and enhance national security. The subsidies will help Micron build a significant portion of its planned US$100 billion investment in these facilities, which are expected to create thousands of jobs and produce advanced memory chips critical for various technologies. The announcement was made by the U.S. Department of Commerce, highlighting the strategic importance of semiconductors in the global economy and technology landscape.

Read the Full Channel NewsAsia Singapore Article at:
[ https://www.channelnewsasia.com/business/us-finalises-more-us61-billion-chips-subsidy-micron-technology-4798191 ]
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