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Micron Technology | 8-K: Micron Virginia Semiconductor Manufacturing Llc Submits Application to U.S. Department of Commerce Chips Program Office

SEC announcement ·  Apr 19 06:11
Summary by Moomoo AI
Micron Technology, Inc. has submitted a full application for federal funding under the U.S. CHIPS and Science Act of 2022, through its subsidiary Micron Virginia Semiconductor Manufacturing LLC. The application, filed on April 17, 2024, seeks grants to modernize the production of long-lifecycle DRAM products at its Manassas, Virginia facility. This initiative is aimed at meeting future demand from sectors such as defense, aerospace, automotive, and industrial customers. The funding, along with federal investment tax credits and state incentives from Virginia, is crucial for the project's commencement. This application complements Micron's ongoing efforts to secure federal funding for new manufacturing facilities in Boise, Idaho, and Clay, New York, as part of its strategy to align supply with industry demand growth. The company has issued forward-looking statements regarding its manufacturing development plans, which are subject to risks and uncertainties that could affect actual outcomes.
Micron Technology, Inc. has submitted a full application for federal funding under the U.S. CHIPS and Science Act of 2022, through its subsidiary Micron Virginia Semiconductor Manufacturing LLC. The application, filed on April 17, 2024, seeks grants to modernize the production of long-lifecycle DRAM products at its Manassas, Virginia facility. This initiative is aimed at meeting future demand from sectors such as defense, aerospace, automotive, and industrial customers. The funding, along with federal investment tax credits and state incentives from Virginia, is crucial for the project's commencement. This application complements Micron's ongoing efforts to secure federal funding for new manufacturing facilities in Boise, Idaho, and Clay, New York, as part of its strategy to align supply with industry demand growth. The company has issued forward-looking statements regarding its manufacturing development plans, which are subject to risks and uncertainties that could affect actual outcomes.
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