The U.S. Department of Commerce has awarded Micron Technology up to $6.165 billion under the CHIPS Act to expand advanced memory manufacturing in Idaho and New York. This funding will support Micron’s two-decade strategy to produce cutting-edge DRAM, including high-bandwidth memory (HBM) critical for artificial intelligence (AI) models and high-performance computing. The investment aims to increase the U.S. global share of advanced memory production from under 2% to 10% by 2035. Micron plans to spend $50 billion by 2030 as part of a broader $125 billion vision.
Separately, the Department announced a memorandum with Micron for $275 million to modernize its Manassas, Virginia facility. This facility will produce DRAM using Micron’s advanced 1-alpha process node, improving efficiency, performance, and bit density. The Virginia project, with a capital expenditure of $2 billion, will address demand for legacy DRAM, a vital component for automotive and industrial markets, while increasing the U.S. supply chain’s resiliency.
• Primary Award: $6.165 billion to expand DRAM and HBM manufacturing in Idaho and New York.
• HBM Significance: Supports advanced AI models with high memory bandwidth for training and inference.
• Production Goals: Boost U.S. global advanced memory market share to 10% by 2035.
• Virginia Expansion: $275 million for 1-alpha DRAM production, with a $2 billion total investment.
• Job Creation: Approximately 20,000 positions from Idaho and New York projects; 400 direct and 2,700 community jobs in Virginia.
“With these investments, Micron is uniquely positioned to strengthen U.S. leadership in advanced memory technologies essential for AI and computing,” said Sanjay Mehrotra, Micron President and CEO.
