U.S. Commerce Department grants $450 million to SK hynix for AI chip facility in Indiana

The US Department of Commerce (DOC) has reached a non-binding preliminary memorandum of terms (PMT) with South Korea’s SK hynix to potentially provide up to $450 million in federal incentives. This funding provided under the CHIPS and Science Act will help facilitate the construction of a new chip packaging site by SK hynix in Indiana.

Source: Cryptopolitan