Latest news with #AdvancedManufacturingInvestmentCredit
Yahoo
a day ago
- Business
- Yahoo
Micron (MU) Commits $200 Billion to U.S. Chip Manufacturing Expansion
Micron Technology (MU, Financials) on Thursday unveiled a $200 billion plan to expand U.S. chip production, aligning with President Donald Trump's push for domestic manufacturing. Warning! GuruFocus has detected 3 Warning Sign with MU. The company will spend $150 billion on new and expanded fabs in Idaho, New York, and Virginia, alongside $50 billion for research and development, including high-bandwidth memory packaging. Micron said it has secured federal, state, and local support for the projects, including up to $6.4 billion through the CHIPS and Science Act, and expects to benefit from the Advanced Manufacturing Investment Credit. CEO Sanjay Mehrotra said the expansion would strengthen U.S. tech leadership, create tens of thousands of jobs, and ensure supply chain resilience. Micron shares were little changed Thursday but remain near a 12-month high, up 37% year to date. This article first appeared on GuruFocus.
Yahoo
3 days ago
- Business
- Yahoo
Micron Technology to Spend $200B to Boost Domestic Chip Production
Micron Technology on Thursday announced a $200 billion investment to boost semiconductor production in the U.S. Roughly $150 billion is scheduled to be used for fabs in three states and advanced high-bandwith memory packaging capabilities, and $50 billion for research and development. Micron has secured federal, state, and local funding, which includes as much as $6.4 billion from the CHIPS and Science Technology (MU) on Thursday became the latest major corporation to announce plans to expand domestic production following President Donald Trump's call for firms to boost American manufacturing. The chipmaker and the Trump administration said Micron will boost its U.S. investments to about $150 billion in memory manufacturing and $50 billion in research and development (R&D). Micron explained that most of the money would be used for "two leading-edge high-volume fabs in Idaho, up to four leading-edge high-volume fabs in New York, the expansion and modernization of its existing manufacturing fab in Virginia," as well as advanced high-bandwith memory (HBM) packaging capabilities. The company noted that it has already received federal, state, and local funding for the Idaho, New York, and Virginia fab work, including up to $6.4 billion from the CHIPS and Science Act. Micron added it expects all of the investments will be eligible for federal Advanced Manufacturing Investment Credit (AMIC). CEO Sanjay Mehrotra argued that this expansion "will reinforce America's technological leadership, create tens of thousands of American jobs across the semiconductor ecosystem and secure a domestic supply of semiconductors—critical to economic and national security." This week, General Motors (GM) announced it would spend $4 billion to increase vehicle production at three U.S. plants. Earlier this year, chipmaking giant Taiwan Semiconductor Manufacturing Co. (TSM) said it planned to invest $100 billion in U.S.-based chip manufacturing facilities, and Apple (AAPL) announced plans to spend more than $500 billion domestically over the next four years. Shares of Micron Technology were little changed today but are up 37% this year, trading at their highest level since last July. Read the original article on Investopedia Sign in to access your portfolio
