President Joe Biden announced that the Department of Commerce has reached a preliminary agreement with Micron Technology, Inc. to provide $6. 14 billion in direct funding under the CHIPS and Science Act.
The U.S. plans to award Micron Technology Inc. $6.1 billion in grants and as much as $7.5 billion in loans to help the memory-chip maker build new American factories.
President Joe Biden is scheduled to visit Syracuse this Thursday following the announcement that Micron will receive $6.1 billion under the Chips and Science Act.