Meta Challenges Australia’s Proposed Tech Tax, Citing U.S. Trade Agreement Concerns 
SpaceX IPO Demand Surges Past $250 Billion Ahead of Historic Market Debut 
SpaceX IPO Sets Record With $75 Billion Raise, Valuation Hits $1.77 Trillion 
Adobe Beats Q2 2026 Estimates, Raises Full-Year Outlook as AI Revenue Surges Despite Stock Drop 
Apple Unveils Enhanced Apple Intelligence and Next-Generation Siri at WWDC 2026 
Meta Partners With Reliance to Launch First AI-Powered Data Center in India 
J.P. Morgan Sees Major Upside for Prysmian as Optical Fiber Prices Surge 
SK Hynix Stock Rebounds as AI Memory Chip Demand Fuels Expansion Plans 
OpenAI Files Confidential IPO Draft as AI Giants Race Toward Public Markets 
Oracle Stock Falls Despite Earnings Beat as Company Plans $40 Billion Financing for FY2027 
Qualcomm Stock Gains After Jensen Huang Endorsement 
Astera Labs and Rocket Lab Surge After Nasdaq-100 Inclusion Announcement 
EngineAI Files for Hong Kong IPO Amid Rising Demand for AI and Robotics Stocks 
OpenAI Eyes Massive 10GW Ohio Data Center Campus in Potential $500 Billion AI Infrastructure Deal 
South Korea Weighs AI Profit Sharing as Samsung and SK Hynix Earnings Surge 
Quantinuum Raises $1.68 Billion in Upsized Nasdaq IPO Amid Growing Quantum Computing Demand 
SK Hynix, Nvidia’s prominent supplier, is investing $6.8 billion in a new chip plant in South Korea to support AI chip production.
SK Hynix to Expand Chip Production
The second-largest memory chip manufacturer in the world, SK Hynix, announced on Friday that it will invest approximately $9.4 trillion won ($6.8 billion) in its first chip plant in the city of Yongin, South Korea.
According to Reuters, the Nvidia supplier has been preparing to build four new chip facilities at a semiconductor cluster near Seoul since 2019. On Thursday, they posted their greatest earnings since 2018 and pointed to increased demand for AI chips.
Yongin Cluster Key to Future Growth
"The Yongin cluster will be the foundation for SK Hynix's mid- to long-term growth," stated Kim Young-sik, the company's head of manufacturing technology.
SK Hynix stated in a regulatory filing that the investment is intended to meet the demand for artificial intelligence semiconductors and to ensure the company's continued growth.
More than fifty small local companies in the chip industry will eventually be housed on the enormous 4.2 million square meter property, according to a statement released by SK Hynix. The business plans to construct four chip facilities that will produce next-generation semiconductors.
The figures released on Friday should cover the first plant's operations until the end of 2028, including utilities like water and electricity, as well as business support and welfare facilities, per CNA.
SK Hynix to Incorporate Mini-Fab Facility
The company announced that it will incorporate a "mini-fab"—a research facility capable of processing 300 mm silicon wafers—to provide a realistic testing environment for domestic chip materials and equipment suppliers.
In April, the business announced plans to invest $3.87 billion in an innovative packaging plant and an artificial intelligence product R&D center in Indiana, USA. This news follows those initiatives.
