Billion dollar deal for SK hynix HBM memory plant
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The US Department of Commerce and SK hynix have signed a billion dollar deal for a high-bandwidth memory (HBM) advanced packaging and research and development (R&D) plant.
The non-binding preliminary memorandum of terms (PMT) of direct grants for $450m is part of a $3.87bn investment by SK Hynix in West Lafayette, Indiana, in an HBM memory packaging plant for artificial intelligence (AI) products and an advanced packaging R&D facility. This would fill a critical gap in the US semiconductor supply chain.
The incentives are part of the CHIPS and Science Act and means the US will have preliminary agreements with all five of the world’s leading-edge logic, memory, and advanced packaging providers. No other economy in the world has more than two of these companies producing leading-edge chips on its shores.
The company has indicated that it plans to claim the Department of the Treasury’s Investment Tax Credit, which is expected to be up to 25% of qualified capital expenditures. In addition to the proposed direct funding of up to $450 million, the CHIPS Program Office would make up to $500 million of proposed loans – which is part of the $75 billion in loan authority provided by the CHIPS and Science Act – available to SK hynix under the non-binding PMT.
SK hynix’s West Lafayette facility, located at the Purdue University Research Park, will be home to an advanced semiconductor packaging line that will mass-produce next generation HBM in the second half of 2028.
The next generation HBM that will be researched and developed, mass-produced, and packaged in this ecosystem with Purdue University will play an important role in the U.S. semiconductor ecosystem and advancing U.S. technological leadership.
“Today’s historic announcement with SK hynix would further solidify America’s AI hardware supply chain in a way no other country on earth can match, with every major player in advanced semiconductor manufacturing and packaging building or expanding on our shores,” said U.S. Secretary of Commerce Gina Raimondo.
“Advanced packaging is more and more critical for AI and other leading-edge systems, but it requires extremely precise manufacturing processes. With this incentive from the CHIPS and Science Act, SK hynix will make a major contribution to the complex computing systems that our nation relies on. At the same time, we are making the R&D investments to win the future, too,” said Arati Prabhakar, Assistant to the President for Science and Technology and Director of the White House Office of Science and Technology Policy.
“We deeply appreciate the U.S. Department of Commerce’s support and are excited to collaborate in seeing this transformational project fully realized,” said SK hynix CEO Kwak Noh-Jung. “We are moving forward with the construction of the Indiana production base, working with the State of Indiana, Purdue University and our U.S. business partners to ultimately supply leading-edge AI memory products from West Lafayette. We look forward to establishing a new hub for AI technology, creating skilled jobs for Indiana and helping build a more robust, resilient supply chain for the global semiconductor industry.”
SK hynix will collaborate with Purdue University on plans for HBM R&D projects, which include working on advanced packaging and heterogeneous integration with Purdue’s Birck Nanotechnology Centre and other research institutes and industry partners.
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