SK Hynix plans to double capacity to ease memory crunch

SK Hynix Inc plans to double its memory chip capacity over the coming half-decade, a major expansion that should help ease a global shortage of an essential component of artificial intelligence (AI). The company is responding to an endemic deficit of storage chips that could last till 2030, SK Group chairman Chey Tae-won told reporters in Taipei, upholding a previous estimate.

SK Hynix is ramping up spending to address that demand-supply imbalance though it is hard to quantify because of volatile prices for a panoply of resources including land, equipment and electricity, Chey said.