Semiconductor maker Micron Technology is planning to spend an additional $30 billion on its U.S. operations, boosting its total proposed domestic investments to $200 billion.
Micron is the latest company to publicly tout capital expenditures in U.S. operations, as the Trump administration has pressed companies to increase their domestic operations. Rival chipmaker Nvidia and pharmaceutical developers Eli Lilly & Co. and Johnson & Johnson have recently made similar announcements.
Micron negotiated new terms with the U.S. Commerce Department on its agreement to receive $6.1 billion in federal grants to help finance the construction of chip plants near Syracuse, New York, and Boise, Idaho, it said in a regulatory filing Thursday. Micron was awarded the grant during the Biden administration through the CHIPS and Science Act. Trump has said he could cancel or renegotiate terms of those financial awards.
Micron is in partnership with the Department of Commerce "to bring the full spectrum of memory chip production back to the United States," U.S. Commerce Secretary Howard Lutnick said in a statement issued by Micron on Thursday. "Micron's planned investment will ensure the U.S. advances its lead across critical industries," like artificial intelligence, automotive, aerospace and defense.
The company's revised deal with the Commerce Department includes a guarantee and equity contribution agreement that requires it to guarantee any financial obligations related to its planned construction of new facilities in New York state and Idaho, according to the regulatory filing. That includes a requirement for Micron to make equity contributions or intercompany loans to those projects.
Mark Plungy, a spokesman for Micron, declined to comment when reached by email. The Commerce Department did not respond to an emailed request for comment.
Micron plans to start construction later this year on a $100 billion manufacturing complex near Syracuse. It also plans to expand an existing manufacturing plant in Boise.
In its Thursday announcement, Micron said the additional $30 billion will be directed toward the construction of a second factory in Boise, the expansion and modernization of an existing plant in Manassas, Virginia, and the transfer of an advanced packaging facility to the U.S.
The Commerce Department awarded Micron up to $275 million under the CHIPS Act for the company's plans in Virginia, with construction expected to begin this year, according to the release. The agreement that was finalized this week brings Micron's total CHIPS Act grants of up to $6.4 billion in direct funding, the release said.