SK Hynix wins $950m of US grants for HBM Facility

The Biden-Harris Administration granted SK hynix a $450 million in federal incentives under the CHIPS and Science Act for a new high-bandwidth memory (HBM) facility.

This investment, part of the bipartisan CHIPS Act, aims to boost semiconductor manufacturing in the US, create jobs, and strengthen the domestic supply chain.

SK hynix’s existing $3.87 billion investment in Indiana will be complemented by this new facility, creating 1,000 jobs and enhancing the semiconductor industry.

The company also plans to utilise the Investment Tax Credit and potential loans of up to $500 million under the CHIPS Programme Office.

Attribution: US Department of Commerce report