Micron Technology to invest about $15-billion in new manufacturing unit in Idaho

President Joe Biden last month signed a bill to provide $52.7-billion in subsidies for U.S. semiconductor production and research and to boost efforts to make the country more competitive.

The capacity expansion comes at a time of weakness in the memory chip market. Micron lowered its fourth-quarter revenue forecast, while peer Seagate Technology Holdings has cut its first-quarter expectations. Micron has announced plans to invest $40-billion through the end of the decade to build memory manufacturing facilities in multiple phases in the country.

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