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Micron Increases US Investment Amid Trump Onshoring Drive
- Micron Technology is increasing its investment in the United States in response to the onshoring drive and tariff threats of US President Donald Trump.
- Micron plans to invest an additional $30 billion in manufacturing and research and development in the United States, bringing its total investment to $200 billion in the country.
- The company received $6.1 billion from the US Chips and Science Act of 2022 for projects in Idaho and New York.
- There are negotiations to potentially revise grants to semiconductor firms from the Biden administration.
- Former President Donald Trump had shown intentions to axe the US Chips and Science Act, signaling possible threats to Micron's expansion plans.
- Micron's US expansion vision includes building high-volume fabs in Idaho and New York.
- Micron broke ground for a $15 billion memory chip plant in Boise, Idaho, in September 2022.
- The company also plans to construct a new memory fab in New York and modernize its existing manufacturing fab in Virginia.
- Micron aims to invest in advanced capabilities and research to drive innovation and technology leadership in the US.
- The investments are intended to meet market demand, maintain market share, and produce 40 percent of its DRAM in the US.
- Micron, an American producer of computer memory and data storage media, is in competition with China's memory maker Yangtze Memory Technologies Co.
- In response to the US adding YMTC to the Entity List blacklist, Chinese regulators investigated Micron and banned its products from critical infrastructure in 2023.
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