Memory Chip Manufacturer Micron Technology Announces $40B Fab Investment
Semiconductor manufacturer Micron Technology, Inc. today announced a $40 billion investment to build memory chip fabs through the end of the decade. The company in its announcement cites the recent passage of the CHIPS-Plus Act and its anticipated grants and credits.
The investment will create up to 40,000 new jobs, including 5,000 technical and operational roles, and help support education, workforce training and transportation services in the communities near the new fabs. Micron will share specific details about its U.S. expansion plans in the coming weeks.
“I thank President Biden, U.S. Secretary of Commerce Gina Raimondo and the full Administration as well as members of Congress for their bipartisan support of the CHIPS and Science Act, which is an important step toward solidifying American semiconductor leadership for decades to come,” says Micron President and CEO Sanjay Mehrota, who attended the White House bill signing ceremony.
“This legislation will enable Micron to grow domestic production of memory from less than 2% to up to 10% of the global market in the next decade, making the U.S. home to the most advanced memory manufacturing and R&D in the world,” says Mehrota.
The memory chip fab investment aligns with Micron's over $150 billion global investment plan for manufacturing and R&D expansion over the next decade.
