The US Commerce Department announced it has awarded memory chip maker Micron Technology with “up to $6.165 billion in direct funding” derived from the CHIPS Act. The new funding will go towards multiple semiconductor manufacturing projects in the US,

The U.S. government will support Micron Technology, America’s largest maker of memory chips. On Tuesday, the Biden administration announced the Commerce Department has awarded $6.165 billion to Micron via direct funding from the Chips and Science Act.

The U.S. Department of Commerce (DOC) has finalized direct funding through the CHIPS and Science Act with two companies and has come to agreements with three other companies for preliminary funding as it continues to push for the revitalization of domestic semiconductor manufacturing.

The Department of Commerce has reached a binding agreement with Micron to award the company $6.165 billion in direct funding under the CHIPS and Science Act.

The US Department of Commerce has awarded Micron Technology US$6.165 billion to expand memory chip production in New York and Idaho, creating 20,000 jobs. The chipmaker also secured US$275 million to modernize its Virginia facility,

Deal would create 20,000 new jobs in Idaho and New York Micron Technology on Tuesday received a grant of up to $6.165 billion from the federal CHIPS Act to manufacture semiconductors domestically. The money will be used for construction on Micron plants in New York state and Idaho.

The Micron investment helps bring development and production of advanced memory semiconductor technology to U.S. shores, said Commerce Secretary Gina Raimondo.