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.
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.
