On April 25, local time, the US government announced that it had reached a non-binding Preliminary Terms Memorandum (PMT) with Micron Technology to provide the latter with direct funding of up to US$6.1 billion in accordance with the US “Chip and Science Act” to support Micron's cutting-edge memory manufacturing projects in New York State and Idaho. Micron plans to establish a “superfab” in Cray, New York, a number of large-scale chip production facilities. This government funding will be used to build the first two of the four factories. Micron also plans to use the funds to build another fab in Boise, Idaho, where its headquarters are located. Located at the same location as the company's existing research facility, the fab will be a high-volume manufacturing facility.