"US to Provide $6 Billion in Chip Grants to Micron, According to Bloomberg"
Micron Technology is reportedly set to receive over $6 billion in grants from the US Commerce Department to support domestic chip factory projects, with an official announcement expected soon. This funding, part of President Joe Biden's CHIPS and Science Act, aims to secure 50,000 jobs, a $100 billion investment, and enhance domestic semiconductor production. The initiative comes amidst efforts to reduce reliance on foreign manufacturing and bolster the US's share in global semiconductor production.