The US Commerce Department announced it has awarded memory chip maker Micron Technology with “up to $6.165 billion in direct funding” derived from the CHIPS Act. The new funding will go towards multiple semiconductor manufacturing projects in the US,

The U.S. government will support Micron Technology, America’s largest maker of memory chips. On Tuesday, the Biden administration announced the Commerce Department has awarded $6.165 billion to Micron via direct funding from the Chips and Science Act.

The U.S. Department of Commerce (DOC) has finalized direct funding through the CHIPS and Science Act with two companies and has come to agreements with three other companies for preliminary funding as it continues to push for the revitalization of domestic semiconductor manufacturing.

The Department of Commerce has reached a binding agreement with Micron to award the company $6.165 billion in direct funding under the CHIPS and Science Act.

U.S. Senate Majority Leader Chuck Schumer announced Monday that Micron Technology has finalized a $6.1 billion federal funding agreement through the bipartisan CHIPS and Science Act to support the construction of a state-of-the-art memory chip facility in Central New York.

Micron Technology received a grant of up to $6.165 billion grant from the federal CHIPS Act to manufacture semiconductors domestically.

The Micron investment helps bring development and production of advanced memory semiconductor technology to U.S. shores, said Commerce Secretary Gina Raimondo.