Chipmaker SK Hynix has begun construction of a $4 billion memory fab in Indiana, as the sector continues to pour billions into the US to bolster a tight supply chain.
The South Korean company broke ground on the 470,000m² project, backed by the US CHIPS Act, on Thursday and said it planned to begin packaging and testing of High Bandwidth Memory (HMB) products from the production line in Q3 2029.
CEO Kwak Noh-Jung said: "The United States is the epicenter of AI innovation, bringing together premier customers, top-tier R&D capabilities, and partners, and Indiana fab will become a gateway to deliver first Made in USA HBM products."
SK Hynix and its two big competitors, Micron and Samsung Electronics, have seen profits soar as demand for AI data centre hardware and short supplies allow them to hike memory prices and prompted new multi-billion-dollar production sites.
