Top 10 AI Stocks to Watch: Latest News and Ratings

4. Micron Technology, Inc. (NASDAQ:MU)

Number of Hedge Fund Holders: 107

Micron Technology, Inc. (NASDAQ:MU) is an innovative memory and storage solutions provider. On December 10, Reuters reported that the U.S. Commerce Department has finalized a $6.165 billion government subsidy for Micron Technology to produce semiconductors in New York and Idaho. The funding, which is one of the largest government awards to chip companies under the $52.7 billion 2022 CHIPS and Science Act, will bolster Micron’s long-term strategy to invest around $100 billion in manufacturing in New York and $25 billion in Idaho.

Additionally, the department has also reached a preliminary agreement to award Micron up to $275 million in proposed funding for expanding and modernizing its facility in Manassas, Virginia. The agreement will help the company introduce more advanced technology to the US to boost wafer production. Moreover, the investments will help create 20,000 jobs and allow the U.S. to grow its share of advanced memory chip manufacturing to an estimated 10% by 2035.