SK Hynix to receive $458 mn grant from US

The U.S. Commerce Department has finalized a grant of up to $458 million for SK Hynix to support the development of an advanced chip packaging plant and research facility for AI products in Indiana.

SK Hynix chip investment in NAND
SK Hynix chip investment in NAND

This project, announced in April, will involve a $3.87 billion investment to build a facility in West Lafayette focused on mass-producing next-generation high bandwidth memory chips used in AI training.

The government also plans to offer $500 million in loans for the project, which is expected to create 1,000 jobs and strengthen the U.S. semiconductor supply chain.

This initiative is part of a broader $39 billion subsidy program to boost semiconductor manufacturing, which also benefits companies like TSMC, Intel, Samsung, and Micron, Reuters news report said.

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