Micron to invest $40 billion in U.S. chip manufacturing
TECH DIGEST- Micron revealed on Tuesday that it will spend $40 billion from now through 2030 on American chip manufacturing. The CHIPS and Science Act, which President Joe Biden will sign on Tuesday, provides grants and credits to encourage the investment.
Micron announced that it would add up to 40,000 jobs in the United States, including 5,000 highly compensated technical and operational positions. According to the business, the extra capacity will increase the market share of memory chip production in the United States from 2% to 10%. In the latter half of the decade, according to Micron, production will start.
In a few weeks, Micron stated, the investment’s detailed intentions will be released.
The CHIPS and Science Act seeks to bolster American competitiveness with China and revive domestic chip manufacturing. Approximately 10% of the world’s supply of semiconductors is produced in the United States, whereas the other 75% is sourced from East Asia.
Qualcomm pledged to spend an additional $4.2 billion on chips made by GlobalFoundries in New York as a result of the CHIPS Act. The world’s largest fabless semiconductor manufacturer, Qualcomm, has revealed ambitions to boost American semiconductor production by 50% over the next five years.
Similar to this, Intel said in January that it will spend up to $100 billion, starting with a $20 billion investment, to erect a new chip facility in Ohio. The complete extent of the project also strongly depends on CHIPS Act financing.