Over $6 billion in CHIPS Act funding finalized for Micron plants in the US
/cdn.vox-cdn.com/uploads/chorus_asset/file/22481674/acastro_210430_1777_semiCon_0003.jpg?w=1200&resize=1200,0&ssl=1 "Over billion in CHIPS Act funding finalized for Micron plants in the US")
Source: The Verge
The US Commerce Department announced it has awarded memory chip maker Micron Technology with “up to $6.165 billion in direct funding” derived from the CHIPS Act.
The new funding will go towards multiple semiconductor manufacturing projects in the US, including an Idaho plant and a Syracuse, New York “mega-fab” facility, both announced in 2022. Between them, the Commerce Department says they’ll create about 20,000 jobs.
The grant, which was announced in April, approaches the size of other multibillion-dollar CHIPS Act subsidies given to Intel, TSMC, and Samsung. Micron “is committing to spend approximately $50 billion before the end of the decade,” according to the release.
The Commerce Department says it also “signed a non-binding Preliminary Memorandum of Terms” to give Micron $275 million in proposed funding for the expansion of its Manassas, Virginia facility. The funding goes to Micron with just over a month left before Donald Trump, who has criticized the CHIPS Act, will be inaugurated on January 20th.
