SK hynix will hold a formal groundbreaking ceremony for its new semiconductor packaging plant in the U.S. state of Indiana on Aug. 27, industry sources said Wednesday. The Korean chipmaker has announced plans to invest $3.87 billion into its first U.S. advanced packaging and research and development (R&D) facility in West Lafayette, Indiana, to produce high bandwidth memory (HBM) chips for artificial intelligence (AI) applications. SK hynix Chief Executive Officer (CEO) Kwak Noh-jung as well as a number of CEOs and officials from major technology companies are expected to attend the ceremony, according to the sources. SK Group Chairman Chey Tae-won may attend the event, with speculation that Nvidia CEO Jensen Huang could also join the ceremony. SK hynix and Nvidia have been partners in global AI data center projects, as well as in the supply of memory chips and graphics processing units (GPUs). Chey and Huang have also held meetings frequently in Korea and the United States since last year.
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