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flag SK Hynix receives U.S. grants and loans totaling up to $958M to build a new chip plant in Indiana.

flag The US Commerce Department has awarded SK Hynix, a South Korean chipmaker, a $458 million grant and up to $500 million in loans to build a new memory packaging plant and research facility in Indiana, under the CHIPS Act. flag This $3.87 billion project aims to enhance the U.S. semiconductor supply chain and create around 1,000 jobs. flag The facility will produce high-bandwidth memory chips crucial for AI products, with SK Hynix partnering with Purdue University and local businesses. flag This move is part of broader U.S. efforts to boost domestic chip production and reduce reliance on foreign suppliers.

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