SK Hynix receives $458 million grant for AI chip plant in Indiana, boosting U.S. semiconductor supply chain

From Investing.com: 2024-12-19 05:20:09

The U.S. Commerce Department grants $458 million to SK Hynix for a chip packaging plant and AI research in Indiana. SK Hynix plans to invest $3.87 billion in a facility for high bandwidth memory chips. An additional $500 million in government loans will be provided, contingent on project milestones.

The project is expected to create 1,000 jobs and strengthen the U.S. semiconductor supply chain. SK Hynix CEO, Kwak Noh-Jung, aims to enhance the U.S. AI semiconductor supply chain. Congress approved a $39 billion subsidy program for semiconductor manufacturing, including $75 billion in government lending.

The Commerce Department is awarding grants to top semiconductor manufacturers like TSMC, Intel, Samsung Electronics, Micron, and SK Hynix. All grants have been finalized except for Samsung’s $6.4 billion award. This news was generated with AI support and reviewed by an editor.



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