Biden set to sign chips bill as U.S. makers unveil new investments
BNN Bloomberg
U.S. semiconductor firms are announcing billions in investments as U.S. President Joe Biden is set to sign a broad competition bill Tuesday that includes US$52 billion in domestic semiconductor research and development.
Micron Technology Inc. will invest US$40 billion in memory chip manufacturing, according to the White House, and Qualcomm Inc. is partnering with GlobalFoundries, which has a facility in New York state, in a US$4.2 billion agreement to manufacture chips.
Micron on Tuesday said their investments would create up to 40,000 jobs in both construction and manufacturing, well beyond the initial White House estimate of 8,000, and it expects to receive funding through the semiconducter bill.
Micron Chief Executive Officer Sanjay Mehrotra is among the expected attendees at the bill signing ceremony at the White House Rose Garden, along with Intel Corp. CEO Pat Gelsinger, Lockheed Martin Corp. CEO Jim Taiclet, HP Inc. CEO Enrique Lores and the CEO of Advanced Micro Devices Inc., Dr. Lisa Su.
