) rose in aftermarket trade on Wednesday after Bloomberg reported the memory chip maker is set to receive over $6 billion in U.S. government grants by as soon as next week under the 2022 CHIPS and Science Act.
Micron shares rose 2.2% to $119.10 in aftermarket trade following the report. They had slumped 4.5% during the session on Wednesday.)- the world’s largest contract chipmaker, had received $11.6 billion in U.S. grants and low-cost loans to expand its plans for a factory in Arizona. But the act has taken more precedence over the past year, especially as a boom in artificial intelligence sparked increased global demand for high-speed semiconductors. The U.S. has also taken more efforts to gain an edge over China in AI development, having recently banned the export of all U.S.-linked AI technology to the country.
Hype over AI had put Micron's shares at record highs earlier in April, especially after the firm clocked surprisingly strong quarterly earnings and flagged a strong outlook on AI demand.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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Raimondo: Commerce Dept. will spend all of the CHIPS Act grant money this yearhe Commerce Department is providing grant money to semiconductor companies to incentivize them to build out manufacturing production capabilities in the U.S.
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Biden Administration to Spend $39 Billion in CHIPS ACT Grant Money by Year-EndCommerce Secretary Gina Raimondo announced that the Biden administration is set to allocate all $39 billion in CHIPS ACT grant money by the end of the year. Future grants will focus on memory chips and investments in suppliers, wafers, and chemicals.
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Biden Administration to Spend All $39 Billion in CHIPS ACT Grant Money by Year-EndCommerce Secretary Gina Raimondo announced that the Biden administration is set to allocate all $39 billion in CHIPS ACT grant money by the end of the year. Future grants will focus on memory chips and investments in suppliers, wafers, and chemicals.
Source: nbcchicago - 🏆 545. / 51 Read more »
Biden to announce $20 billion in funding for Intel chip factoriesIt's the biggest grant yet from BIden's $52 billion Chips and Science Act.
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Intel awarded up to $8.5 billion in CHIPS Act grants, with billions more in loans availableThe White House said on Wednesday that Intel has been awarded up to $8.5 billion as part of the CHIPS Act.
Source: NBCNewYork - 🏆 270. / 63 Read more »
Intel will get $8.5 billion in CHIPS Act funding to support its US manufacturing effortsMariella Moon has been a night editor for Engadget since 2013, covering everything from consumer technology and video games to strange little robots that could operate on the human body from the inside one day. She has a special affinity for space, its technologies and its mysteries, though, and has interviewed astronauts for Engadget.
Source: engadget - 🏆 276. / 63 Read more »