US export restrictions on China threaten SK Hynix's plans to build $45 billion worth of chip plants in New York
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What we know so far: The US Commerce Department is holding up export licenses SK Hynix needs to ship American chipmaking equipment to its NAND memory plant in Dalian, China, according to people familiar with the matter. The delay is complicating the South Korean chipmaker's plan to build memory plants in New York. SK Hynix argues that more production in Dalian would help pay for the US project, but Commerce has said it does not plan to license equipment that would expand or upgrade chip plants in China.
Two people told Reutersthat Solidigm, SK Hynix's US subsidiary, plans to spend about $45 billion on two NAND fabs in Marcy, New York. That figure could grow to about $100 billion over time. The company needs to increase output in Dalian and make more...
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