SK Hynix Inc. secured a combined subsidy of $458 million in grants and $500 million in loans, a total of $958 million from the US Department of Commerce under the CHIPS and Science Act.
SK Hynix will plow in $3.87 billion to build advanced packaging and research and development facilities for AI chips in IndianaThe final decision on the grant came a month before the inauguration of President-elect Donald Trump, who has been critical of the US subsidy programs for foreign companies.
The company aims to mass produce high-performance, high-value memory chips in the second half of 2028.
These chips are essential components in running graphics processing units (GPUs) that train AI systems like ChatGPT.
The company has partnered with Purdue University for academic-industrial cooperation. The US government will provide grants to SK Hynix for each phase of the project.
Write to Jeong-Soo Hwang at
hjs@hankyung.com
