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Micron Technology headquarters in Biose, Idaho, U.S., on Sunday, March 28, 2021. Photo: Jeremy Erickson/Bloomberg via Getty Images

Memory chip maker Micron is announcing plans to spend $150 billion over the next 10 years, much of which will go to building new chip plants, potentially in the U.S.

Driving the news: Micron is willing to expand in the U.S. — but wants a commitment on government funding for the chip industry.

Context: Whereas the bulk of memory chips were once made in the U.S., today only about 2% of global capacity is here, with the most advanced chips coming largely from Taiwan, China and Korea.

Between the lines: In making the announcement, Micron is hoping to convince Congress (as well as governments in other countries) to move forward quickly with tax incentives as the company weighs where to locate its next manufacturing plants.

  • Micron chief strategy officer David Moore told Axios that the company is likely to locate much of its new capacity in places where it already has operations, a list that includes the U.S., but also locations throughout Asia, including Singapore, Japan, Taiwan and China.
  • "Concentration is something we view as a risk overall to the supply chain," Moore said.

Go deeper

FTC sues to block Nvidia's $40B Arm acquisition

Image: Nvidia

The Federal Trade Commission sued to block the chip supplier Nvidia's $40 billion acquisition of U.K. chip designer Arm, arguing the deal would give Nvidia too much control over the technology and designs its competitors rely on.

Why it matters: Arm's chip designs are used in phones, tablets, game consoles and by companies including Apple, Samsung and Qualcomm.

JPMorgan: "Full global recovery" in 2022

Photo: Erik McGregor/LightRocket via Getty Images

JPMorgan Chase Global Research says in a forecast to clients: "2022 will be the year of a full global recovery, an end of the global pandemic, and a return to normal conditions we had prior to the COVID-19 outbreak."

The big picture: The bullish report sees "a return of global mobility, and a release of pent-up demand from consumers (e.g. travel, services)."

Inside Trump's hunt for "disloyal" Republicans

Illustration: Aïda Amer/Axios

Donald Trump and his associates are systematically reshaping the Republican Party, working to install hand-picked loyalists across federal and state governments and destroy those he feels have been disloyal, sources close to the former president tell Axios.

Why it matters: If most or all of Trump’s candidates win, he will go into the 2024 election cycle with far more people willing to do his bidding who run the elections in key states.

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