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US finalizes $6.1 billion Micron chip-making subsidy


Published on 2024-12-11 04:02:17 - The Jakarta Post
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  • President Joe Biden's administration has finalized a series of subsidies, including a $7.86 billion award for Intel, $6.6 billion for Taiwan Semiconductor Manufacturing Co's US unit and $1.5 billion for GlobalFoundries.

The United States has finalized a $6.1 billion subsidy deal with Micron Technology to boost domestic semiconductor production, aiming to reduce reliance on foreign manufacturing and enhance national security. This agreement, part of the CHIPS and Science Act, will fund the construction of two new factories in New York and Idaho, with the potential to create thousands of jobs. The investment is expected to significantly increase Micron's production capacity, supporting the growth of the U.S. semiconductor industry and reinforcing supply chain resilience. The deal also includes significant tax credits and loans, highlighting the government's commitment to revitalizing American manufacturing and technological leadership.

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