SK Hynix CEO says Indiana will be key memory production base by 2030, first U.S. facility now underway

Indiana Governor Mike Braun, SK Hynix CEO Kwak Noh-Jung and other officials gathered at Purdue University to signal the ceremonial groundbreaking of SK Hynix’s advanced packaging facility in West Lafayette, Indiana, on August 27, 2026.Alex Bedoya | CNBCSK Hynix, the South Korean memory maker that's emerged as one of the biggest winners in the AI boom, is bolstering its U.S. presence, with a new factory in Indiana that CEO Kwak Noh-Jung says will make the state a "key HBM production base in America" by 2030.Speaking at the groundbreaking for SK Hynix's first U.S. facility on Thursday in the city of West Lafayette, Kwak emphasized the need for high-bandwidth memory, which faces a critical global shortage due to insatiable demand from artificial intelligence."We will provide our customers with a new source of made-in-U.S. HBM, while strengthening the U.S. semiconductor supply chain and contributing to national and economic security," Kwak said.SK Hynix is the HBM market share leader, and is in the midst of a $720 billion buildout to make more, with the vast majority of that expansion taking place in its home country, where the company is constructing the largest memory fab campus in t...