Micron Technology Inc (MU.O) will invest approximately $15 billion over the next 10 years in a new reminiscence-chip manufacturing facility in Boise, Idaho, in which it's far based totally, the company stated on Thursday.
The funding takes under consideration anticipated federal offers and credit underneath the CHIPS and Science Act and will create 17,000 jobs through the give up of the last decade.
President Joe Biden last month signed a invoice to provide $fifty two.7 billion in subsidies for semiconductor manufacturing and research and to boost efforts to make america extra competitive.
"Today's assertion with the aid of Micron is every other massive win for America," Biden said in a assertion. "We will make EVs, chips, fiber optics and other important additives here in America and we can have an financial system built from the bottom up and center out."
Micron did now not offer info of the new facility's capacity or the type of chips it will produce.
The expansion comes at a time when Micron has reduce its fourth-quarter revenue forecast because of vulnerable call for. Peer Seagate Technology Holdings (STX.O) too has slashed its first-quarter expectations
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