Micron Technology said it plans to invest $ 150 billion over the next decade to boost semiconductor production.
And Idaho-based Micron is asking Congress to pass legislation to help with the expansion of the national plant, he said. Micron CEO Sanjay Mehrotra in an interview with the Wall street journal. Part of the goal is to support the data economy.
“We will collaborate with governments around the world, including in the US, to address our needs to increase our supply in line with our demand expectations for the 2030 era,” he said.
The plans aim to keep up with a huge demand boom in the wake of the pandemic, which hit the global supply chain when companies first cut their demand and then increased orders due to panic as supplies ran out. . KPMG estimated that automakers would lose $ 100 billion in sales due to chip shortages in 2021.
Intel has also pledged to invest $ 20 billion this year to expand in the United States and said it would also spend $ 95 billion to make chips in Europe. Micron plans to spend $ 12 billion.
GlobalFoundries also said it would raise $ 2.6 billion at a $ 25 billion valuation in a public offering. Much of the efforts of Intel, Micron, and Global Foundries are aimed at restoring chip production in the US, which once held the majority market share in manufacturing. Now companies like TSMC in Taiwan dominate chip production.
The United States Senate passed a bill in June to subsidize production with $ 52 billion in research and development. The House has yet to act. Meanwhile, the shortage is expected to last until 2023.
Global Foundries, formerly the chip production arm of Advanced Micro Devices, is now a production-focused foundry or manufacturer of chips designed by other companies. It is owned by the sovereign wealth fund Mubadala Investment Company of Abu Dhabi. He now plans to go public with the company, although Mubadala would continue to control 89% of the company after listing.
So far this year, US IPOs have raised a record $ 250 billion this year.
VentureBeat’s mission is to be a digital urban plaza for technical decision makers to gain insight into transformative technology and transact. Our site offers essential information on data technologies and strategies to guide you as you run your organizations. We invite you to become a member of our community, to access:
- updated information on the topics of your interest
- our newsletters
- Exclusive content from thought leaders and discounted access to our treasured events, such as Transform 2021: Learn more
- network features and more
Become a member