Micron to invest $40 billion in US chip manufacturing
Micron Technology Inc (NASDAQ: MU) on Tuesday said it will invest $40 billion through 2030 to manufacture chips in the United States, which would boost its market share from 2% to 10%
By Arghyadeep Dutta
Published - Aug 09, 2022, 02:32 PM ET
Last Updated - Mar 13, 2024, 11:37 AM EDT
Micron Technology Inc (NASDAQ: MU) on Tuesday said it will invest $40 billion through 2030 to manufacture chips in the United States, which would boost its market share from 2% to 10%.
The investment is supported by grants and credits from the CHIPS and Science Act, which President Joe Biden signed on Tuesday.
Micron said it would create up to 40,000 jobs in the US, including 5,000 highly paid technical and operational roles and expects to begin production in the second half of the decade.
The specific plans of the investment will come in weeks, the memory chip-maker added.
