The Japanese government has announced that it will offer financial assistance of up to 192.0 billion yen ($1.28 billion) to support Micron Technology’s memory chip project at its Hiroshima plant. This aid is part of a broader effort to ensure a stable supply of semiconductors.
According to Yasutoshi Nishimura, the Minister of Economy, Trade and Industry, this funding will be allocated for the development and production of memory chips by Micron. These chips, manufactured using cutting-edge technology, will be utilized in various industries such as generative AI, data centers, and self-driving vehicles.
Nishimura emphasized the significance of this investment during a downturn in the industry, noting that the demand for these applications is expected to increase in the future.
Micron had previously announced its own investment of approximately $3.6 billion in advanced memory chip manufacturing in Japan, with support from the Japanese government.
As part of their expansion plans, Micron intends to acquire and install state-of-the-art chip-making machinery known as EUV lithography equipment at their Hiroshima factory.