The Biden administration awards $450m in grants to SK Hynix for a new chip facility in Indiana, supporting US semiconductor manufacturing and job creation.

The Biden administration will award up to $450m in grants to South Korean chipmaker SK Hynix for a new chip facility in Indiana, aiding the rebuilding of the US semiconductor manufacturing industry. SK Hynix is investing $3.87bn in Indiana, with the goal of creating around 1,000 jobs, and the facility will focus on advanced packaging and research for AI products. The US Commerce Department plans to make available $500m in government loans for the project, which is expected to fill a key gap in the US semiconductor supply chain.

August 06, 2024
5 Articles