10:46 AM EST, 01/14/2025 (MT Newswires) -- MACOM Technology Solutions ( MTSI ) plans to modernize its semiconductor wafer fabrication facilities in Massachusetts and North Carolina as part of a five-year capital investment plan of up to $345 million supported by a preliminary agreement with a US Department of Commerce program.

The plan includes up to $180 million in funding supported by the CHIPS and Science Act from a mix of federal and state sources, including $15.7 million from the Massachusetts Technology Collaborative, the company said Tuesday in a statement.

MACOM plans to cover the remaining $165 million through operating cash flow over five years.

The company expects to finalize a definitive agreement with the CHIPS Program Office.

Shares of MACOM rose 3.6% in recent Tuesday trading.

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