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OpenAI’s Sam Altman Urges U.S. to Expand Chips Act Tax Credit for AI Development

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OpenAI CEO Sam Altman on Friday called for the United States to broaden eligibility under the Chips Act’s Advanced Manufacturing Investment Credit (AMIC), arguing that expanding the incentive to include AI data centers, server production, and grid infrastructure is essential for maintaining U.S. leadership in artificial intelligence.

Altman’s comments follow a letter sent by OpenAI’s Chief Global Affairs Officer Chris Lehane on October 27 to White House Office of Science and Technology Policy Director Michael Kratsios, formally requesting that the AMIC cover AI infrastructure beyond semiconductor fabrication.

“The U.S. needs re-industrialization across the entire stack — fabs, turbines, transformers, steel, and much more,” Altman said on X (formerly Twitter). “That will help everyone in our industry, and other industries, including us.”

Altman emphasized that the request was “very different from loan guarantees to OpenAI,” clarifying that the company is not seeking direct federal funding for its operations. Earlier this week, he confirmed that OpenAI had discussed potential federal loan guarantees for chip factory construction, but not for data centers.

OpenAI has pledged to invest $1.4 trillion over the next eight years to expand its computational infrastructure, reflecting the skyrocketing demand for AI models and chips that power applications like ChatGPT.

As AI becomes a cornerstone of global technology competition, the Biden administration faces growing pressure to balance industrial policy and fiscal discipline. White House AI and crypto czar David Sacks recently reiterated that there will be no federal bailout for AI companies, underscoring Washington’s cautious stance despite mounting private-sector investment.

New York approves key power line for Micron’s $100 billion semiconductor megafab

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New York State has approved a critical underground power transmission line to connect an existing substation in Clay with Micron Technology’s planned $100 billion semiconductor megafab in Onondaga County, Governor Kathy Hochul announced on Thursday.

The two-mile, 345-kilovolt line will deliver electricity to the chipmaker’s future facility — the largest private investment in New York’s history — and marks another major step toward the project’s construction phase.

“This project is set to transform Central New York — and we’re moving quickly ahead with all due speed and deliberation,” Hochul said.

The megafab, part of a 2022 agreement between Micron and New York State, is expected to create more than 50,000 jobs over the next two decades, including 9,000 direct Micron positions. Once fully operational, the site aims to produce 25% of all U.S.-made semiconductors by 2030, helping to strengthen domestic chip supply chains.

The state’s Public Service Commission also approved the environmental and construction plans for the project’s first phase, which includes the eastern expansion of the Clay substation and new equipment installation to link it to Micron’s future campus.

The move underscores New York’s broader effort to position itself as a national hub for semiconductor manufacturing, competing with other chipmaking centers in Arizona, Texas, and Ohio.

Micron tops forecasts with AI-fueled HBM demand, sees strong Q1 revenue

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Micron Technology projected first-quarter revenue of $12.5 billion ± $300 million, well above Wall Street’s estimate of $11.94 billion, as booming demand for its high-bandwidth memory (HBM) chips drives growth amid the AI race.

AI demand supercharges Micron

  • Q4 HBM revenue hit nearly $2 billion, putting Micron on pace for ~$8B annually, CEO Sanjay Mehrotra said.

  • HBM chips, built by stacking DRAM vertically, reduce power use while enabling massive data processing — making them indispensable for training and running advanced AI models.

  • Micron is a key HBM supplier to Nvidia, whose dominance in AI accelerators makes HBM supply one of the most competitive battlegrounds in semiconductors.

2026 outlook already sold out

  • Micron expects to lock in deals for all 2026 HBM capacity in the coming months.

  • HBM3E pricing agreements are nearly complete; HBM4 pricing talks are ongoing.

  • “The pricing on HBM4 is actually significantly higher than the pricing on HBM3E,” said Chief Business Officer Sumit Sadana, citing tight supply and strong ROI expectations.

  • TSMC will partner with Micron to manufacture the base logic die for its HBM4E chips.

Financial performance

  • Adjusted Q4 EPS: $3.03, topping forecasts.

  • Adjusted gross margin forecast (Q1): 51.5%, far above expectations of 45.9%.

  • Analysts said stronger-than-expected pricing drove the margin boost.

U.S. policy and subsidies

  • Micron has received $6.2B under the CHIPS and Science Act, passed under former President Joe Biden.

  • Current Commerce Secretary Howard Lutnick is exploring converting subsidies into equity stakes in chipmakers, but Sadana said Micron does not expect its grant terms to change.

  • Micron recently received a disbursement after completing a milestone at its Idaho fab, Mehrotra confirmed.

Big picture

Micron is riding the wave of AI-driven chip demand, securing long-term contracts at higher prices while boosting profitability. With HBM4 set to command premium pricing, Micron is positioning itself as a critical player alongside Nvidia, Samsung, and SK Hynix in the global AI supply chain.