SK Hynix broke ground on August 27 on a semiconductor facility in West Lafayette, Indiana, with the project now valued at over $4 billion. This site, the South Korean chipmaker’s first manufacturing footprint on American soil, will focus on packaging high-bandwidth memory chips designed for artificial intelligence workloads. The company secured up to $458 million in direct grants and $500 million in loans under the CHIPS Act, totaling $958 million in federal support. SK Hynix held a 58% share of the global HBM market by revenue in Q1 2026, supplying major customers including Nvidia, Microsoft, and Google. The project is expected to create approximately 7,000 direct and indirect jobs.
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