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Micron is expected to receive over $6 billion in chip subsidies in next week's announcement.
It is the largest computer memory chip maker in the USA. $Micron Technology (MU.US)$ As part of efforts to bring semiconductor production back to the USA, the company is prepared to receive over $6 billion in subsidies from the Commerce Department to support domestic factory projects.
According to sources familiar with the matter, while the final decision has not been made yet, there is a possibility it will be announced as early as next week. It is unclear whether the company will also receive loans under the 2022 Chips and Science Act in addition to direct subsidies.
Micron, based in Boise, Idaho, is constructing factories in New York and the local area. After the preliminary agreement announcement, the company will undergo months of due diligence and then receive funds divided into tranches linked to project-specific benchmarks.
Representatives from Micron, the Commerce Department, and the White House refrained from commenting.
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