SK Hynix Receives $458M Grant for US Packaging Plant

The U.S. Department of Commerce has finalized a $458 million direct funding grant for SK Hynix to build a $3.87 billion packaging plant and R&D facility in West Lafayette, Indiana. Additionally, SK Hynix is eligible for a $500 million loan, both funded by the CHIPS Act. Boosting US Semiconductor Supply Chain The facility aims to address a "critical gap" in the U.S. semiconductor supply chain, particularly for AI products. It will enable the manufacturing of HBM chips within the United States, a crucial component for advanced AI chip production. With TSMC also operating an Arizona fab, the U.S. could potentially produce the majority of components for its most advanced chips within its own borders. Job Creation and Research The project is expected to create a thousand new jobs in Indiana and drive research and development through a partnership with nearby Purdue University. Statements from Officials “By investing in companies like SK hynix and communities like West Lafayette, th…