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Micron to invest $40 Billion in Leading-Edge Memory Manufacturing in the US

Micron’s $40 billion Investment

KEY HIGHLIGHTS

  • Micron announced on Tuesday (9th Aug 2022) that it will invest $40 billion in memory chip manufacturing with the help of the CHIPS and Science Act.
  • The investment will create an estimated 40,000 American jobs, including approximately 5,000 highly paid technical and operational roles at Micron, the company said in the press release.
  • The company expects the said investment will strengthen national security and bolster supply chain resilience.
  • The announcement was made ahead of Micron executives joining President Joe Biden at the White House for the signing of the momentous CHIPS and Science Act.
Micron's $40 billion investment
Micron’s $40 billion Investment

Micron Technology on Tuesday (9th Aug 2022) announced its plans to invest $40 billion between now and 2030 to build leading-edge memory manufacturing in the U.S. Micron is one of the world’s largest semiconductor companies and the only U.S.-based manufacturer of memory. The company expects this investment will enable the world’s most advanced memory manufacturing in America.

The investment is expected to be supported by grants and credits made possible by the CHIPS and Science Act. The CHIPS and Science Act, a bipartisan bill, that President Joe Biden signed into law on Tuesday. Micron expects to begin production in the second half of the decade, ramping overall supply in line with industry demand trends.

The largest investment in memory chip manufacturing in the U.S.

Micron’s $40 billion Investment will be the largest in memory chip manufacturing in U.S. history. Micron said it will create up to 40,000 new American jobs including 5,000 highly paid technical and operational roles. The Micron investment will also enrich surrounding communities by bolstering education, workforce training, transportation and several other services.

Micron is finalizing its specific U.S. expansion plans and will share additional details in the coming weeks.

The company said the additional capacity will bring the U.S. market share of memory chip production from 2 percent to 10 percent.

Ensure U.S. national security and supply chain resilience

Micron said its domestic leading-edge manufacturing capabilities will ensure U.S. national security and supply chain resilience.  The demand for memory grows in critical market segments, fueled by the accelerating adoption of artificial intelligence and 5G. The announcement was made ahead of Micron executives joining President Joe Biden at the White House. This was for the signing of the momentous CHIPS and Science Act. This aligns with the company’s financial plans and is a key element of Micron’s $150+ billion global investment in manufacturing and R&D over the next decade.

In late July, Congress passed the $280 billion package to support domestic semiconductor manufacturing capabilities, along with research and development in advanced technology.

Source: Micron Press Release

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