Funding and Expansion Plans
The awarded $6.165 billion under the to bolster domestic semiconductor production, aiming to increase the U.S. share of advanced memory manufacturing to 10% by 2035.
Micron's $125 billion investment plan includes significant expansions in New York and , expected to create 20,000 jobs and enhance the production of DRAM and high-bandwidth memory chips crucial for AI and industrial applications.
Additional Investments and Economic Impact
Beyond the primary funding, Micron could receive an extra $275 million for modernizing its Virginia facility, a project estimated at $2 billion that will add 400 manufacturing jobs, focusing on legacy DRAM chips for industrial and automotive markets.
The CHIPS Act, with $50 billion in funding, aims to strengthen the U.S. semiconductor industry, with more than $32 billion allocated to projects across 16 states. It supports initiatives like 's $90 billion investment and ' microelectronics center modernization.