SK Hynix drops $12.9 billion on new chip facility
SK Hynix, the world's second largest memory chipmaker, is putting down 19 trillion won ($12.9 billion) to build a huge new packaging and testing plant in Cheongju, South Korea.
The site—covering 230,000 square meters (about 70,000 pyeong)—will break ground in April 2026 and aims to be up and running by late 2027.
Why does this matter?
This new P&T7 facility will help SK Hynix keep pace with skyrocketing demand for high-bandwidth memory (HBM)—the kind of chips powering AI tools and graphics cards from companies like NVIDIA.
Already holding a massive 61% share of the global HBM market, SK Hynix has been a leader in delivering next-gen HBM technology to NVIDIA.
This move shows how big tech is racing to upgrade AI infrastructure behind the scenes.
The bottom line
If you're into tech or just curious about what fuels your favorite apps and games, this is a peek at how much groundwork goes into making future gadgets faster—and smarter.