Micron Technology, the largest US maker of computer memory chips, is poised to get US$6.1 billion (S$8.3 billion) in grants from the Commerce Department to help pay for domestic factory projects, part of an effort to bring semiconductor production back to American soil.
The award, which is not yet finalised, is slated to be revealed next week, according to people familiar with the matter. Micron, like Intel and Taiwan Semiconductor Manufacturing Company (TSMC), will also accept loans as part of its award package, said two of the people. The total value of those loans remains unclear.
US President Joe Biden is scheduled to travel on April 25 to the Syracuse, New York, region as part of the announcement, the people said. Micron, based in Boise, Idaho, is building factories near Syracuse, as well as in its home state.
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