Sanjay Mehrota, CEO of Micron
Scott Millian | CNBC
micron It announced Tuesday that it will invest $40 billion between now and 2030 to manufacture chips in the United States. The investment is supported by grants and credits from CHIPS and the Science Act, which President Joe Biden will sign on Tuesday.
Micron said it will create up to 40,000 jobs in the United States, including 5,000 paid technical and operational jobs. The company said the additional capacity would raise the US market share of memory chip production from 2% to 10%. Micron expects production to begin in the second half of the decade.
Micron added that specific plans for the investment will come within weeks.
The CHIPS and Science Act aims to revitalize the domestic chip industry and boost the United States’ competitiveness with China. The United States produces about 10% of the world’s supply of semiconductors but otherwise relies on East Asia for 75% of global production.
CHIPS also prompted Qualcomm to commit an additional $4.2 billion on chips from GlobalFoundries’ New York facility. Qualcomm, the world’s leading semiconductor company, has announced plans to increase semiconductor production in the United States by 50 percent over the next five years.
Similarly, Intel in January Announce investment plans It amounts to $100 billion to build a new chip complex in Ohio, starting with an initial commitment of $20 billion. The full scope of the project too It relies heavily on funding from the CHIPS Act.