SK Hynix's New York chip plans hit snag over US restrictions on China, sources say
SK Hynix's subsidiary Solidigm is progressing with plans to invest approximately $45 billion initially to construct two NAND memory facilities in Marcy, New York, with potential for $100 billion in total investment over time. However, the expansion faces regulatory hurdles as the Commerce Department delays approval of export licenses SK Hynix needs to supply its Dalian plant in China. SK Hynix argues that expanded Chinese production would help finance its US facility buildout, but US restrictions on technology transfers to China are blocking the licensing approvals.
Key points
- SK Hynix Solidigm plans $45 billion initial investment in two New York NAND plants
- US Commerce Department has not approved export licenses for China operations
- SK Hynix argues increased Dalian production would fund US expansion plans
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