Major Investment Boosts US Semiconductor Supply Chain
SK Hynix, the world’s second-largest chipmaker, has secured grants totaling up to $450 million from the US government to establish a cutting-edge chip manufacturing plant in Indiana. This provisional agreement, struck between the US Department of Commerce and the South Korean tech giant, also includes significant federal incentives aimed at building both a research and development center and an advanced chip fabrication facility in the United States.
Substantial Financial Support and Job Creation
In addition to the grants, SK Hynix will have access to $500 million in government loans to further support this ambitious project. The company plans to invest approximately $3.9 billion in the Indiana site, which is expected to generate nearly 1,000 new jobs, enhancing the US semiconductor supply chain. The Purdue University Research Park has been chosen as the location for this innovative project, where high-bandwidth memory chips essential for AI system processors will be produced.
Strategic Collaboration Strengthens US Semiconductor Dominance
This initiative is part of the broader US CHIPS and Science Act, which has allocated substantial funding for domestic semiconductor research and manufacturing. The collaboration between SK Hynix and Purdue University aims to create a next-generation research hub, solidifying the US’s position as a leader in semiconductor technology. Following this agreement, the US now boasts commitments from the top five semiconductor manufacturers globally, including TSMC, Intel, Samsung Electronics, Micron, and SK Hynix
