Biden announces to give Micron $6.1 bn for American chip factories

Micron is set to receive up to $6.1 billion in grants from the US government to help build its semiconductor plants in New York and Idaho, President Joe Biden said on Thursday.

The announcement came as he traveled to Syracuse in New York, marking the latest in a series of efforts by Washington to bring semiconductor production back to the country.The United States has been working to ensure its lead in the chip industry, especially with regards to the development of artificial intelligence.

The funds will go to supporting construction of two facilities in Clay and one in Boise, Idaho, where Micron is headquartered.