Micron Secures Over $6.1 Billion Under U.S. CHIPS Act

On December 10, the U.S. government announced that the Department of Commerce has finalized a funding package exceeding $6.1 billion for Micron Technology to support the establishment of multiple semiconductor manufacturing facilities within the United States. This substantial grant, which aligns with the initial amount announced in April, represents one of the largest allocations under the CHIPS Act, designed to bolster the domestic semiconductor industry.

The funding will back Micron's plans to build advanced chip manufacturing facilities in New York and Idaho, aiming to create at least 20,000 new jobs by 2030. In addition, the Department of Commerce and Micron have agreed to allocate an additional $275 million for expanding the company's Virginia facility, which produces chips primarily for the automotive, networking, and industrial markets.

According to the White House, this additional investment will help shift the production of critical technologies—essential for defense and automotive applications—to the United States, reducing reliance on foreign supply chains.

This initiative is part of the Biden administration's broader effort to enhance domestic semiconductor manufacturing capacity. Other significant funding agreements under the CHIPS Act include $7.86 billion for Intel and $6.6 billion for TSMC's U.S.-based facilities.