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SK Hynix allocates $64B for chip plants
South Korean company SK Hynix announced a massive investment plan worth $64.38 billion to build new factories for NAND memory chip production and facilities for chip packaging, aiming to meet the rising demand driven by the artificial intelligence boom. The investments include establishing a NAND chip manufacturing plant by 2029 and a packaging plant by the end of 2027 in Cheongju city, as part of a broader expansion plan in South Korea. Shares declined following reports of a slowdown in global AI spending, despite the company's confidence in increasing demand for NAND chips.
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