The US Department of Commerce has reached a preliminary agreement with Micron (MU.US) to provide the latter with up to $6.14 billion in direct funding under the Chip and Science Act.
The Zhitong Finance App learned that the US Department of Commerce has reached a preliminary agreement with Micron (MU.US) to provide the latter with up to 6.14 billion US dollars in direct funding under the Chip and Science Act.
This grant will support the construction of two fabs in Clay, New York, and a fab in Boise (Boise), Idaho, and release approximately $50 billion in private investment by 2030. This is the first step for Micron to invest up to 125 billion US dollars in these two states over the next 20 years to establish a leading memory manufacturing ecosystem.
At Cray, New York, the funding will support the construction of the first two of the four planned fabs, which focus on cutting-edge (dynamic random access memory) chip production. Each plant will have 600,000 square feet. A 4-foot clean room with a total area of 2.4 million square feet. This is the largest cleanroom space ever announced in the US
The funding will also support the development of a high-volume manufacturing (HVM) plant in Boise, Idaho. The facility is located in the same location as the company's existing advanced R&D site and covers an area of approximately 600,000 square feet. One foot of cleanroom space is focused on producing leading-edge DRAM chips.
Micron's planned chip manufacturing plant is expected to create about 75,000 domestic jobs over the next 20 years.
US President Joe Biden will travel to Syracuse, New York today to announce the grant. Today's announcement marks the seventh preliminary contract approved under the $53 billion Chip and Science Act, which aims to boost US chip production
Intel (INTC.US) received the largest grant to date, receiving $8.5 billion from the Act, followed by TSM.US, which received $6.6 billion, and Samsung received $6.4 billion.