Biden to announce preliminary deal with Micron for up to $6.14 billion in chip grants

US President Joe Biden is set to visit Syracuse, New York, to reveal a preliminary deal with Micron Technology for up to $6.14 billion in subsidies for two chip factories, as per the White House. The agreement, part of the 2022 CHIPS and Science Act, supported by the US Commerce Department, will finance facilities in New York and Idaho.