Micron plans to invest in leading-edge memory production
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Micron Technology (NASDAQ:MU) plans to bring leading-edge memory manufacturing to the U.S. with the passing of the $280B 'Chips and Science' legislation.
On Wednesday, the U.S. Senate voted to pass the CHIPS Act by a 64-33 vote, one day after the legislative body advanced the bill on a bipartisan basis.

The legislation, which includes $52B in subsidies for domestic production and a previously reported investment tax credit for chip plants could be worth an estimated $24B over the next decade. As the House on Thursday passed bipartisan legislation, it will now go to President Biden's desk for him to sign into law.
In addition to aid for the semiconductor industry, the bill also authorizes $200B to boost scientific research over the next 10 years.
Welcoming the bill, Micron (MU) said, "As a result of this bipartisan effort to ensure our economic and national security, Micron has a 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."
MU shares are down over 1% pre-market
Take a look at the company's latest earnings report