US finalizes more than $6.1 bln funding for Micron under CHIPS Act

Reuters

US finalizes more than $6.1 bln funding for Micron under CHIPS Act

Dec 10, 2024 at 12:48 pm GMT

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Updates Micron, Intel, TSMC and GlobalFoundries

Dec 10 (Reuters) -The U.S. Department of Commerce has finalized a subsidy of more than $6.1 billion for Micron Technology, marking one of the largest government awards to chip companies under the U.S. CHIPS and Science Act.

Below is a list of the large awards made so far under the CHIPS and Science Act:

POLAR SEMICONDUCTOR

Polar Semiconductor, owned by Sanken Electric 6707.T and Allegro MicroSystems ALGM.O, said it would receive as much as $123 million in direct funding. It plans to invest about $525 million over the next two years to double the production capacity of its Bloomingdale, Minnesota facility.

TEXAS INSTRUMENTS TXN.O

Texas Instruments will receive as much as $1.6 billion in direct funding to support the construction of three new domestic facilities.

MICRON MU.O

The U.S. Department of Commerce has finalized a subsidy of more than $6.1 billion for the memory chip maker to support the construction of several domestic semiconductor facilities.

SAMSUNG 005930.KS

The South Korean electronics giant will be provided up to $6.4 billion to expand its facilities in Texas under a preliminary memorandum of terms signed in April.

TSMC 2330.TW

The U.S. Commerce Department finalized a $6.6 billion government subsidy in November for Taiwan Semiconductor Manufacturing Co's U.S. unit for semiconductor production in Phoenix, Arizona.

INTEL INTC.O

The U.S. Commerce Department said in November it was finalizing a $7.86 billion government subsidy for Intel, down from $8.5 billion announced in March after the California-based chips maker won a separate $3 billion award from the Pentagon.

GLOBALFOUNDRIES GFS.O

In November, the U.S. finalized a $1.5 billion government subsidy for the world's third-largest contract chipmaker to build a semiconductor production facility in Malta, New York and expand existing operations there and in Burlington, Vermont.

MICROCHIP TECHNOLOGY MCHP.O

The company will get $162 million in government grants, it was announced in January, allowing the company to triple production of mature-node semiconductor chips and microcontroller units at two U.S. factories.

Reporting by Chris Sanders; Additional reporting by Yuvraj Malik, Rishi Kant and Harshita Mary Varghese in Bengaluru; Editing by David Gregorio, Sriraj Kalluvila, Anil D'Silva and Shilpi Majumdar

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