TECH - Micron's US Expansion Plans Get Presidential Nod with $6.1B Investment | Benzinga
Micron Technology Inc (NASDAQ:MU) will likely receive $6.1 billion in grants from the U.S. Commerce Department.
This funding is for Micron’s domestic factory, which aims to shift semiconductor production back to the U.S..
Bloomberg reports that this initiative aligns with the broader national strategy to rejuvenate American chip manufacturing, a sector that has largely migrated to Asia over recent decades.
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The grant, which is part of a package that also includes loans, is expected to be announced next week.
President Joe Biden plans to highlight this development during ...