Micron Technology is the most recent recipient of direct funding from the US Department of Commerce under the CHIPS and Science Act. The US-based computer memory and data maker is set to receive a $6.14 billion federal grant to support the expansion of its Dynamic Random Access Memory (DRAM) fabs in Syracuse, New York. TSMC and Samsung also received similar subsidies earlier this month.
Micron’s roadmap plans include investing more than $100 billion in New York State and creating over 13,000 jobs in the process. The new funding round will also unlock a $25 billion investment in a separate DRAM factory in Boise, Idaho, near Micron’s headquarters and R&D facility. This new investment is part of a broader plan to bring 40% of Micron’s DRAM production to the US over the next two decades. Currently, Micron’s leading DRAM chips are manufactured in Japan and Taiwan.