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Biden announces preliminary deal with Micron for up to $6.14 bln in chip grants

WASHINGTON, April 25 -
U.S. President Joe Biden traveled to Syracuse, New York, on
Thursday and announced a preliminary agreement with. ....

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Biden announces preliminary deal with Micron for up to $6.14 billion in chip grants

WASHINGTON (Reuters) -U.S. President Joe Biden traveled to Syracuse, New York, on Thursday and announced a preliminary agreement with memory chip maker Micron Technology for up to $6.14 billion in subsidies for two chip factories. The agreement signed by the U.S. Commerce Department will fund facilities in New York and Idaho under the 2022 CHIPS and Science Act, which aims to boost domestic manufacturing of chips and reduce reliance on supplies from China and Taiwan. Biden said the United States used to have 40% of the chips market but over time production moved outside the country and the pandemic exposed weaknesses in the U.S. supply chain that hurt critical industries. ....

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