TECH - Micron's $6.1B CHIPS Act Funding Propels Major Expansion In US | Benzinga
On Thursday, Micron Technology, Inc (NASDAQ:MU) announced signing a non-binding Preliminary Memorandum of Terms (PMT) for $6.1 billion in funding under the CHIPS and Science Act.
This funding will support Micron’s planned leading-edge memory manufacturing in Idaho and New York.
The CHIPS and Science Act will allocate $6.1 billion in grants to aid Micron’s commitment to investing about $50 billion in gross capital expenditures for domestic leading-edge memory manufacturing through 2030.
These grants and additional state and local incentives will facilitate the construction of one leading-edge memory manufacturing facility next to Micron’s existing ...