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Micron to invest $40 billion in US chip manufacturing

Sanjay Mehrota, CEO, Micron

Scott Mlyn | CNBC

Micron announced on Tuesday that it would invest $40 billion by 2030 to manufacture chips in the United States. The investment is supported by grants and credits from the CHIPS and Science Act, which President Joe Biden will sign into law on Tuesday.

Micron said it will create up to 40,000 jobs in the United States, including 5,000 high-paying technical and operational positions. The company said the additional capacity will boost U.S. memory chip production market share from 2% to 10%. Micron plans to begin production in the second half of the decade.

Specific plans for the investment will come in a few weeks, Micron added.

The CHIPS and Science Act aims to revitalize domestic chip manufacturing and boost US competitiveness with China. The United States produces about 10% of the world’s semiconductor supply, but is otherwise dependent on East Asia for 75% of global production.

The CHIPS Act also prompted Qualcomm to commit to spending an additional $4.2 billion on chips from GlobalFoundries’ New York facilities. Qualcomm, the world leader in fabless semiconductors, has announced plans to increase US semiconductor production by 50% over the next five years.

Similarly, Intel in January announced plans to invest up to $100 billion to build a new chip complex in Ohio, starting with an initial commitment of $20 billion. The full scope of the project is also heavily dependent on funding from the CHIPS Act.


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