Micron Announces Intent to Bring Leading-Edge Memory Manufacturing to the U.S.

Rhea-AI Summary

Micron Technology (NASDAQ: MU) applauds the passage of the "Chips and Science" legislation, expressing gratitude to the Biden Administration and bipartisan Congress. This act is pivotal for restoring semiconductor manufacturing in the U.S., expected to generate tens of thousands of jobs and billions in investments. Currently, Micron produces 100% of the U.S.'s 2% share of global memory supply. The legislation offers competitive incentives for Micron to expand domestic memory production, marking a historic chance to innovate and strengthen supply chain resilience.

Positive

• Passage of the "Chips and Science" legislation expected to create tens of thousands of jobs.
• Legislation provides competitive incentives for domestic memory manufacturing.
• Micron is positioned to grow as the only U.S.-based memory manufacturer.

Negative

• None.

Only manufacturer of memory and storage in the U.S. applauds the passage of the “Chips and Science” Legislation, looks forward to furthering domestic investments

BOISE, Idaho, July 29, 2022 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (NASDAQ: MU) commends and thanks the Biden Administration for their leadership and the bipartisan work of Congress for passing the “Chips and Science” legislation. This is a big step towards securing the future of semiconductor manufacturing in the United States and advancing American innovation and competitiveness for years to come. 

This legislation will bring leading-edge semiconductor manufacturing to the U.S., creating tens of thousands of jobs and tens of billions of dollars of new investments – transforming U.S. semiconductor innovation and supply chain resilience.

Today, only 2% of global memory supply is manufactured in the U.S., and all of that is produced by Micron. The competitive incentives passed yesterday will allow Micron, the only U.S.-based manufacturer of memory, to grow domestic production of memory significantly in the years ahead.

As a result of this bipartisan effort to ensure our economic and national security, Micron has an historic opportunity to invest in bringing the most innovative leading-edge memory manufacturing to the U.S. We look forward to sharing more details regarding our plans in the coming weeks.  

About Micron Technology, Inc. 
We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND and NOR memory and storage products through our Micron^® and Crucial^® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence and 5G applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com. 
  
© 2022 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners. 

FAQ

What is the significance of the "Chips and Science" legislation for Micron (MU)?

The legislation boosts semiconductor manufacturing in the U.S., enabling Micron to expand production and create jobs.

How much of the global memory supply does Micron (MU) produce?

Micron currently produces 100% of the U.S.'s 2% share of global memory supply.

What opportunities does Micron (MU) have after the legislation's passage?

Micron has a historic opportunity to expand its domestic memory manufacturing and invest significantly.