Nvidia (NVDA) supplier SK Hynix (OTCPK:HXSCF) has won up to $458M in direct funding as part of the U.S. CHIPs Act to build a robust and resilient AI semiconductor supply chain in the U.S. The award comes after the previously signed preliminary memorandum ...

"US awards $458m to SK Hynix for chip packaging plant" was originally created and published by Verdict, a GlobalData owned brand.

Read about the $458M federal funding support for South Korean company SK Hynix’s upcoming advanced memory packaging plant in Indiana.

The U.S. Commerce Department on Thursday finalized an award to SK Hynix of up to $458 million in government grants to help fund an advanced chip packaging plant and research and development facility for artificial intelligence products in Indiana.

President Joe Biden's administration has finalized an award of up to $458 million for SK hynix, officials said Thursday, furthering efforts to lock in his legacy in boosting US semiconductor production before Donald Trump takes office.

SK hynix, the world’s second-largest memory chip maker, has finalized a deal with the US government to secure direct funding of up to $458 million for building its advanced chip packaging plant in the US,

The US Department of Commerce has awarded SK Hynix $458 million in direct funding under the CHIPS and Science Act. The funding is a slight increase on the $450 million that the government proposed to award the memory chip maker in April 2024.

The Biden administration has cemented a deal to give SK Hynix Inc. as much as $458 million in grants and $500 million in loans to support an advanced chip packaging facility in Indiana, a key part of US efforts to build a domestic semiconductor supply chain.

The United States has finalized a deal to give South Korean chipmaker SK Hynix up to $458 million in grants and $500 million in loans to build an advanced chip packaging facility in Indiana. The combined grant and loan subsidy package amounts to $958 million.

The US Department of Commerce has awarded SK Hynix a grant of up to US$458 million under the CHIPS and Science Act (CHIPS Act), supporting the company's efforts to strengthen the AI supply chain in the US.