Micron Technology Inc. announced on Thursday that it will invest $150 billion in semiconductor manufacturing in the United States, as well as $50 billion in research and development. The commitment includes building a memory facility in Idaho, expanding an existing plant in Virginia, and bringing packaging capabilities to the US. The company said the plans will support around 90,000 direct and indirect jobs.

Micron added that it has already secured support at the local, state and federal level, including up to $6.4 billion in direct funding provided by the Biden administration's CHIPS Act. "Micron's U.S. memory manufacturing and R&D plans underscore our commitment to driving innovation and strengthening the domestic semiconductor industry," CEO Sanjay Mehrotra said, adding that a domestic chip supply is "critical to economic and national security."