With the passage of the recent CHIPS and Science Act of 2022 in both the House of Representatives and Senate, and going to President Biden’s desk to sign, the United States is set to bolster its tech manufacturing over the next few years and major tech firms are moving to take advantage. Micron is among those joining in investment in chip and semiconductor manufacturing in the US. The company has announced a $40 billion USD investment with the help of the CHIPS Act that will specifically go towards new chip manufacturing facilities.
Micron announced its $40 billion CHIPS-aided investment in a press release on its Investor Relations website on August 9, 2022. With this investment, the company aims to have new chip and semiconductor manufacturing facilities open and operational by the second half of the 2020 decade (so 2025 at the earliest). Micron is among several companies that have moved to take advantage of the CHIPS Act since it was recently passed in the US House and Senate.
“With the anticipated grants and credits made possible by the CHIPS and Science Act, this investment will enable the world’s most advanced memory manufacturing in America,” Micron wrote in its statement. “Micron expects to begin production in the second half of the decade, ramping overall supply in line with industry demand trends.”
Investment from groups like Micron are especially relevant given escalating tensions in Asia. With China currently threatening Taiwan with the possibility of invasion, supplies from crucial groups like TSMC are threatened, and so is the global supply chain as a result.
With Micron among multiple companies aiming to take advantage of the US CHIPS Act of 2022, more sizeable investments like these may be coming from major tech firms. Stay tuned for updates on Micron and more companies utilizing the CHIPS Act, right here at Shacknews.