President Joe Biden is set to announce a preliminary deal with Micron Technology, a leading semiconductor company based in the United States, for up to $6.14 billion in chip grants. This move comes as part of the Biden administration's efforts to address the ongoing global semiconductor shortage that has impacted various industries, including automotive and consumer electronics.
The deal with Micron is aimed at boosting domestic chip production and reducing reliance on foreign suppliers, particularly in countries like China. The $6.14 billion in grants will support Micron's efforts to expand its manufacturing capacity and develop advanced semiconductor technologies in the United States.
