US firms up $6.2 bn Micron funding to boost chipmaking

US President Joe Biden’s administration finalized nearly $6.2 billion in funding for Micron Technology on Tuesday, firming up a deal to boost domestic semiconductor production before Donald Trump returns to the White House.

The Biden administration has been working to green-light agreements with firms in the chip making supply chain over recent months, hoping to cement it as part of his legacy before leaving office in January.