The United States government has announced a preliminary agreement to provide funding to chip manufacturers establishing factories in the United States, in accordance with the CHIPS Act. This time, Micron is the beneficiary, receiving approximately $6.14 billion in support.
This funding will be used by Micron to build three factories, with two located in Clay, New York, and another in Boise, Idaho. The initial investment in 2023 is estimated at around $50 billion, expected to create over 70,000 jobs in manufacturing, construction, and related fields.
Micron is the latest company to receive funding from the CHIPS Act, following in the footsteps of TSMC, Intel, and Samsung.
Source: The White House
TLDR: The US government is providing Micron with $6.14 billion to establish chip manufacturing factories in New York and Idaho, creating over 70,000 jobs.
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