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China Component assembly and test, module assembly and test
+Added: Component assembly and test, module assembly and test
+Added: 43 | 2024 10-K
We believe that our existing facilities are suitable and adequate for our present purposes.
We generally utilize all of our manufacturing capacity;
−Removed: however, a portion of our facilities were underutilized for 2023 due to industry conditions.
+Added: however, a portion of our facilities were underutilized for 2024 and 2023 due to industry conditions.
See “Part II – Item 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operations – Overview – Industry Conditions” for information regarding our current underutilization.
−Removed: To support expected memory demand in the second half of the decade, we will need to add new DRAM wafer capacity.
−Removed: Following the enactment of the CHIPS Act in 2022, we announced plans to invest in two leading-edge memory manufacturing fabs in the United States, contingent on CHIPS Act support through grants and investment tax credits.
+Added: To support projected memory demand in the second half of the decade, we will need to add new DRAM wafer capacity.
+Added: Following the enactment of the U.S.
+Added: CHIPS and Science Act of 2022 (“CHIPS Act”), we announced plans to invest in two leading-edge memory manufacturing fab facilities in the United States, based on CHIPS Act support through grants and investment tax credits.
As part of this plan, in September 2022, we broke ground on a leading-edge memory manufacturing fab in Boise, Idaho.
−Removed: Construction of the fab began in October 2023 with DRAM production targeted to start in calendar 2025 and first output in early calendar 2026.
−Removed: In addition, in October 2022, we announced plans to build a second leading-edge DRAM manufacturing fab in Clay, New York.
−Removed: We expect construction to begin in calendar 2024, with production anticipated to ramp in the latter half of the decade.
−Removed: We expect these new fabs to fulfill our requirements for additional wafer capacity starting in the second half of the decade and beyond, in line with industry demand trends.
−Removed: On August 21, 2023 we announced that two of our subsidiaries had each submitted full applications on August 18, 2023 for federal funding in the form of grants under the CHIPS Act for both of these projects.
−Removed: We are also advancing our global back-end assembly and test network in order to support our product portfolio and extend our ability to deliver on global customer demand in the future.
−Removed: We intend to make investments at our backend facility in Xi’an, China, including a new building to provide space to add more product capability, to allow us over time to serve more of the demand from our customers in China from the Xi’an facility.
−Removed: We also intend to build a new assembly and test facility in Gujarat, India to address demand in the latter half of this decade.
+Added: Construction of the fab began in October 2023, with meaningful DRAM output projected in 2027.
+Added: In addition, in October 2022, we announced plans to build a second leading-edge DRAM manufacturing facility, consisting of up to four fabs to be built over the next 20-plus years, in Clay, New York.
+Added: We expect construction site preparation to begin in calendar 2025, with production anticipated to ramp in the latter half of the decade.
+Added: We expect these new fabs to be key to meeting our requirements for additional wafer capacity starting in the second half of the decade and beyond, in line with industry demand trends and to maintain an objective of stable bit share.
+Added: We have signed a non-binding preliminary memorandum of terms with the U.S.
+Added: Department of Commerce for up to $6.1 billion in direct funding under the CHIPS Act for our planned fab in Boise, Idaho and the first two planned fabs in Clay, New York.
+Added: We are also eligible for federal loans up to $7.5 billion.
+Added: In addition, we receive a 25% investment tax credit on qualified investments in U.S.
+Added: semiconductor manufacturing under the CHIPS Act.
+Added: We have also signed a non-binding term sheet with the state of New York that provides up to $5.5 billion in funding for the planned four-fab facility over the next 20-plus years through a combination of tax credits for qualified capital investments and incentives for eligible new job wages.
+Added: Additionally, we began enablement of cleanroom space within our existing manufacturing fab in Hiroshima, Japan, that will support production of DRAM using EUV lithography.
+Added: We also continue to advance our global back-end assembly and test network in order to support our product portfolio and extend our ability to deliver on global customer demand in the future.
+Added: We have started construction to expand our existing assembly and test facility in Xi’an, China, to provide space to add more product capability, to allow us over time to serve more of the demand from our customers in China.
+Added: Construction is also progressing for the assembly and test facility in Gujarat, India to address demand in the latter half of this decade.
We do not identify or allocate assets by operating segment, other than goodwill.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.