US Chips Act Draws Momentum; Micron Breaks Ground On US Chip Fab

Micron Technology, Inc MU broke ground on its leading-edge memory manufacturing fab in Boise, Idaho. It will be the first new memory manufacturing fab in the U.S. in 20 years.
CEO Sanjay Mehrotra said, "The investment, made possible by the anticipated grants and credits provided by the CHIPS and Science Act, also enhances Micron's supply chain resilience and will establish a new strategic capability for the U.S."
Micron recently shared plans to invest $15 billion through the decade's end in advanced memory manufacturing in Boise. By the decade's end, the new fab will likely create over 17,000 new American jobs, including 2,000 direct Micron jobs.
The Boise manufacturing investment is part of Micron's strategy to increase U.S.-based DRAM production to 40% of the company's global output in the next decade.
Construction on the new fab in Boise will likely begin in early 2023, with cleanroom space coming online in phases starting in 2025.
New DRAM production will begin in 2025, ramping over the decade's second half in line with industry demand growth.
Taiwan's GlobalWafers Co Ltd also looks to start construction in November of its new $5 billion plant in Texas, Reuters reports.
Earlier it shared plans to build the plant to make 300-millimeter silicon wafers used in semiconductors.
Recently, Wolfspeed, Inc WOLF disclosed plans to build a new, state-of-the-art, multi-billion-dollar Materials manufacturing facility in Chatham County, North Carolina.
Price Action: MU shares traded higher by 0.66% at $58.32 premarket on the last check Tuesday.

Market News and Data brought to you by Benzinga APIs

-

-

-

-

-

-

-

25% Off Benzinga's Most Powerful Trading Tools

-

-

-

-

-

-

-