Micron Clinches Up to $13.6 Billion in US Grants, Loans

-- The US plans to award Micron Technology Inc . $6.1 billion in grants and as much as $7.5 billion in loans to help the memory-chip maker build new American factories, rounding out a slew of major federal awards for advanced semiconductor manufacturing .Malaysia in Talks With Tycoons on Casino to Revive $100 Billion Forest CityHow to Get a Meeting With the UAE’s $1.5 Trillion Man

It will still be months before Micron actually receives any of the funding from the 2022 Chips and Science Act, which set aside $39 billion for grants and $75 billion worth of loans to boost American chipmaking and reduce reliance on Asia. Preliminary agreements like the one announced Thursday trigger a due-diligence stage, after which the money will be handed out over time in tranches tied to construction and production benchmarks.

The four main advanced manufacturers building in the US — Micron, Intel, Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. — are set to receive a combined $27.6 billion in grants. The only other company that does such production, South Korea’s SK Hynix Inc., has committed to building an American packaging facility. That means the US will become the only country in the world with facilities run by all of the top manufacturers.

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