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SK Hynix Launches $720 Billion Push To Meet Surging AI Chip Demand

by News Editor

August 13, 2026

SK Hynix is investing $720 billion in what it says will become the world’s largest network of memory factories, betting that demand for AI chips will remain strong for years to come.

The South Korean memory giant, whose market value has climbed more than fivefold over the past year to above $1 trillion, is expanding production as AI companies compete for limited supplies of high-bandwidth memory (HBM).

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AI Drives A Memory Race

HBM is essential for AI processors because it enables rapid data access. SK Hynix held 58% of the global HBM market in the first quarter, ahead of Samsung and Micron, which each had 21%, according to Counterpoint Research.

Demand has pushed memory prices higher and encouraged major technology companies to secure supply through long-term agreements. SK Hynix signed 10 such deals in July, while Nvidia agreed to secure HBM supply and co-develop next-generation memory as part of a broader $500 billion deal with SK Group.

“It’s like a war,” said Chey Tae-won, chairman of SK Group, which controls SK Hynix. “Everybody wants to buy the memory chips.”

Nvidia CEO Jensen Huang has even sent SK Hynix a message on a wafer: “Please make more.”

Building A New Memory Hub

At the centre of SK Hynix’s expansion is the Yongin Cluster, where the company is building four fabs. The first will rise to roughly the height of a 50-story apartment building and feature six cleanrooms across multiple floors.

The company is also expanding its facilities in Cheongju, while South Korea is pursuing a broader plan to double national memory production over the next five years.

SK Hynix is not alone in the race. Micron is investing $50 billion in two fabs in Idaho and plans a potential $100 billion campus in New York. The Korean company is also building a $4 billion packaging facility in Indiana, scheduled for completion in 2028.

China Adds Pressure

Alongside the global race for capacity, SK Hynix faces growing competition from China. The company operates three fabs there but cannot sell its most advanced HBM products in the country because of U.S. export controls.

Chinese memory maker CXMT is expanding rapidly and recently made a high-profile debut on the Shanghai stock market. “It’s a race, and now the counterparty of the race is China,” Counterpoint Research director MS Hwang said.

For SK Hynix, the next stage of growth will increasingly depend on custom HBM designed specifically for AI processors. The company believes this shift could make memory less of a commodity and help protect its massive investment.

“Nvidia wants their own custom chips and Google wants their own customized HBM, so it’s not just a commodity,” Tae-won said. “It actually changes the memory chip’s status.”

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Cyprus’ Strong Youth Employment Rate Still Does Not Guarantee Early Independence

by THEFUTURE.TEAM

September 16, 2026

Young people in Cyprus have a relatively high employment rate, but they leave the parental home later than the EU average, according to Eurostat data.

Cypriots left home at an average age of 27 in 2025, compared with 26.3 years across the EU. At the same time, 72.3% of people aged 20 to 29 in Cyprus were employed, well above the EU average of 65.5%.

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Strong Employment Does Not Mean Early Independence

Only nine countries recorded higher youth employment rates than Cyprus. Iceland led at 85.3%, followed by the Netherlands at 84%, Malta at 82.1%, Switzerland at 78.3% and Germany at 77%.

Norway recorded 76.5%, Ireland 76.1%, Denmark 74.8% and Austria 74.6%. Eurostat said countries where young people leave home earlier generally tend to have higher youth employment rates.

Southern Europe Sees Later Moves

Finland had the lowest average age for leaving the parental home at 21.4 years, followed by Denmark at 21.8 and Estonia and Lithuania at 22.7. Croatia recorded the highest average at 31.5 years, followed by Greece and Slovakia at 30.9. Spain and Italy both stood at 30.2 years.

Across the EU, the average has remained close to 26 since 2002, rising only slightly from 26.2 years in 2024 to 26.3 years in 2025.

Cyprus Labour Market Is Cooling

The figures come as Cyprus’ labor market shows some signs of easing, although demand for workers remains relatively strong by European standards.

Separate Eurostat data showed Cyprus had the EU’s largest annual decline in its job vacancy rate in the second quarter of 2026. The rate fell to 2.6% from 3.3% a year earlier, but remained above the EU average of 2.0% and the euro area average of 2.1%.

Cost Of Living Remains A Factor

Housing and other living costs can also affect how quickly young workers establish independent households. Eurostat reported that Cyprus’ household consumption price level was 89.2% of the EU average in 2025.

A relatively lower overall price level does not eliminate affordability pressures for people on modest incomes. For younger workers, the issue can be whether wages are sufficient to cover rent, utilities, food and other basic expenses.

Cyprus therefore combines relatively high youth employment with a later transition to independent living, suggesting that access to work and the ability to afford a separate household do not always move together.