Micron, one of the world's largest semiconductor companies, received $6.1 billion in Chips and Science Act funds in April to build chip fabrication plants in central New York and Idaho. This investment is part of a $100 billion public-private project expected to create 50,000 jobs over the next 20 years. The first two of four planned fabs are expected to be constructed by the end of the decade.
Key takeaways:
- Micron Technology is expected to report an 80% increase in revenue in its third-quarter earnings results, with an estimated revenue of $6.7 billion.
- The company's stock has risen by 66.3% this year, reaching a record high closing price of $153.45 on June 18.
- Micron received $6.1 billion in Chips and Science Act funds in April to build chip fabrication plants in central New York and Idaho.
- The company's federal funding is part of a $100 billion public-private investment over the next 20 years to build a "mega-fab project" in central New York, expected to create 50,000 jobs.