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The $6.1 billion in grants to Micron (MU) is likely to facilitate the construction of cutting-edge memory fabs in Idaho and New York, paving the way for a resurgence of semiconductor production on American soil.

Micron will receive a total of $13.6 billion from the CHIPS act, as well as additional tax credits and incentives. This comes as the company works to construct chip fabrication facilities in New York and Idaho.

Micron is set to receive up to $6.1 billion in grants from the US government to help build its semiconductor plants in New York and Idaho, the White House said Thursday.

U.S. President Joe Biden will travel to Syracuse, New York, on Thursday to announce a preliminary agreement with memory chip maker Micron Technology for up to $6.14 billion in subsidies for two chip factories, the White House said.

Micron Technology received a $6.14 billion CHIPS Act grant on Thursday, but unlike recent grant recipients Intel Intel , TSMC, and Samsung, it is in a commodity business. Like many other commodity businesses, production of memory chips largely moved to Asia decades ago.

Cracks are starting to form in the tech trade. After leading the market higher over the last 18 months, technology stocks are starting to waver.

One top name in the industry warned that a particular segment wouldn't see much growth. An up-and-coming manufacturer also caused disquiet with an apparent change in releasing quarterly results.

The Investment Committee give you their top stocks to watch for the second half.

Micron (MU) reported earnings 30 days ago. What's next for the stock?

Micron Technology beat analysts' revenue and earnings expectations the last time it reported earnings. The company is a beneficiary of the proliferation of Artificial Intelligence, which should drive multi-year growth. Its opportunities in the data center, PC, and smartphone markets position it for potential outperformance in the coming years.