Micron rises, says federal funding necessary for Idaho, NY manufacturing plants
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Micron Technology (NASDAQ:MU) shares rose in early morning trading on Monday as the company said federal support is necessary for its coming manufacturing plants in Idaho and New York.
Micron (MU) has already submitted applications to the Commerce Department in order to receive funding from the CHIPs Act.

In September, Micron (MU) CEO Sanjay Mehrotra said the company had broke ground on its newly announced $15B factory in Idaho, which is slated to produce dynamic random access, or DRAM chips, used for data centers, PCs and other electronics.
The Boise plant is expected to be operational in 2025 and is the first memory chip plant built in the U.S. in 20 years and will employ 2,000 workers by the end of the decade.
One month later, Micron (MU) said it would invest up to $100B over 20 years in the Clay, New York chipmaking complex.


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