DOC will also invest in the expansion of Micron’s facility in Manassas, Virginia to onshore the company’s 1-alpha technology. The two parties have already signed a non-binding preliminary memorandum of terms for proposed funding valued at $275 million.

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 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.