Inside SK Hynix $720 billion memory bet: Here's what you need to know

Summary

CNBC's Katie Tarasov reports from South Korea on SK Hynix's $720 billion AI-driven memory fab buildout. SK Hynix is the leading maker of high-bandwidth memory, which is in short supply for GPUs and AI accelerators. SK Group's chairman says next year could be the worst memory shortage and prices have risen quickly.

• SK Hynix is investing $720 billion in an AI-fueled memory fab buildout in South Korea.
• SK Hynix is the world's leading producer of high-bandwidth memory used in GPUs and AI accelerators.
• SK Group's chairman says next year is likely the worst year for memory shortage and prices rose too fast.
• The project includes NAND flash packaging expansion and is larger than US CHIPS Act funding comparisons.
• Samsung is second in high-bandwidth memory and both companies face US government pressure to build front-end fabs in the US.
• South Korea's government is investing up to $22 billion in the semiconductor push.