"Next Week's Announcement: Micron Set to Receive Over $6 Billion in Chip Grants"
Micron Technology Inc. is expected to receive over $6 billion in grants from the Commerce Department to support domestic factory projects as part of the effort to bring semiconductor production back to the US. The award, which is not yet finalized, could be announced as soon as next week. This funding is part of the 2022 Chips and Science Act, which aims to revitalize American chipmaking. Micron has pledged to build multiple factories in New York and Idaho, with plans to prioritize projects that begin production by the end of the decade. The company's competitors, Samsung and SK Hynix Inc., also have plans to build factories in the US as part of a significant private semiconductor investment spurred by the Chips Act.