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Micron to Receive $13B in US Aid for Chip Megafab in NY, Idaho

Apr 25, 2024, 09:05 AM

Micron Technology is set to receive significant financial support from the U.S. government, totaling up to $13 billion, to expand its chipmaking capacity. This includes grants of $6.1 billion and potential loans up to $7.5 billion. The funding, part of the CHIPS Act, aims to facilitate Micron's ambitious plan to invest up to $125 billion over the next 20 years in constructing three new chip-making facilities, known as a 'megafab', in New York and Idaho.