United Kingdom, April 28 -- President Joe Biden's government has granted US semiconductor firm Micron Technology up to $6.14 billion in funding.

The billions will be spent on chip factories in New York and Idaho and will create more than 70,000 jobs.

This will boost the $125 billion the firm is going to invest in chip production by 2030.

The White House also confirmed Micron will benefit from tax breaks in New York.

Micron President and CEO Sanjay Mehrotra commented: "Micron's leading-edge memory is foundational to meeting the growing demands of artificial intelligence, and we are proud to be making significant memory manufacturing investments in the US, which will create many high-tech jobs."

China previously banned Micron from vita...