The US-based semiconductor manufacturer expects to get grants and credits from the recently passed $280bn CHIPS and Science Act bill to help increase its domestic production of memory from under 2% to up to 10% of the global market in the next decade
Micron Technology campus in Boise, Idaho. (Credit: Micron Technology, Inc.)
Micron Technology said that it intends to invest $40bn in the US through 2030 with an aim to build factories and memory chips in multiple phases.
The US-based semiconductor manufacturer claimed that the investment will pave the way for manufacturing the world’s most advanced memory in the US.
Micron Technology expects to receive grants and credits from the recently passed $280bn CHIPS and Science Act bill.
Micron Technology president and CEO Sanjay Mehrotra said: “I thank President Biden, U.S. Secretary of Commerce Gina Raimondo and the full Administration as well as members of Congress for their bipartisan support of the CHIPS and Science Act, which is an important step toward solidifying American semiconductor leadership for decades to come.
“I am honoured to take part in this historic White House bill signing ceremony with them and fellow executives.”
Mehrotra added that the CHIPS and Science Act will help the company increase domestic production of memory from under 2% to up to 10% of the global market in the next decade.
Micron Technology expects to commence production in 2025 and boost the overall supply in alignment with industry demand trends.
Its planned investment could eventually generate up to 40,000 new jobs in the US, of which nearly 5,000 will be technical and operational roles at the company, said the semiconductor manufacturer.
The company said that its specific expansion plans in the US are currently being finalised.
According to the company, its domestic leading-edge manufacturing capabilities will ensure the resilience of US national security and supply chain. The company claimed that this is because the demand for memory increases in highly important market segments such as automotive and data centre, which will be driven by faster adoption of artificial intelligence and 5G
The latest announcement by the company is said to be an important element of a larger global investment revealed in October 2021. At that time, Micron Technology said that it will invest more than $150bn over the next 10 years in global memory manufacturing and research and development (R&D).