SK Hynix to Begin $4 Billion HBM4E Chip Production in Indiana by 2029

South Korean chipmaker SK Hynix announced plans to begin producing next-generation HBM4E chips at its Indiana facility in the third quarter of 2029. The project, valued at over $4 billion, aims to expand SK Hynix's presence in the US and meet growing demand for high-bandwidth memory driven by AI investment.

The site at Purdue Research Park will enable the company to produce chips closer to major customers such as Nvidia, Microsoft, and Alphabet. According to CEO Kwak Noh-Jung, 'The United States is the epicenter of AI innovation...'

SK Hynix already holds a dominant market position in HBM, with 58% of the global revenue share in Q1 2026, outpacing Samsung Electronics and Micron Technology. The U.S. government supported the project with $458 million in CHIPS Act grants and up to $500 million in loans.