Direct:
SK Hynix's (000660.KS) next NAND node carries a materials change that matters more than its layer count. The company has validated 375-layer 3D NAND and plans to start mass production by year-end, converting existing lines at the M15 fab in Cheongju that currently run 176-, 238-, and 321-layer parts. The change underneath is a shift in part of the word-line electrodes from tungsten to molybdenum.
The reason is straightforward materials physics. As stacks get taller, the word lines controlling each cell layer get narrower, and tungsten's resistance climbs as those dimensions shrink, which slows signal transmission and drags on write and erase speed. Molybdenum holds lower resistance at those fine geometries, which is why SK Hynix is bringing it in as it chases Samsung (005930.KS) toward 400-plus layers.
The 375 number itself deserves a second look. This node was previously described as 400-layer-class, then revised down because the manufacturing complexity at that height got harder than planned. The honest figure is 375, with a longer roadmap pointing at 480 and eventually 604 layers. NAND scaling has not stopped, but the cost per step is rising and the advertised layer count is drifting toward what the process can actually build.
Funding the buildout is the other half of the story. SK Hynix is moving toward a US listing as soon as August, issuing ADRs that could raise as much as $14 billion while keeping its primary listing in Korea. The proceeds are earmarked for new fabs, the Yongin cluster at home and a site in Indiana, as the company targets roughly triple its wafer output by 2034. The 375-layer node enters production by year-end, and the listing is meant to bankroll what comes after.
Drafted with AI assistance against parallel reporting.
Sources:
- DigiTimes, “SK Hynix readies 375-layer NAND as US listing plan advances” (June 11, 2026)
- TrendForce, SK Hynix DRAM/NAND roadmap, 375-layer NAND at year-end, 3x wafer output by 2034 (June 11, 2026)
- The Elec, SK Hynix to mass produce 375-layer NAND by year-end, introduce molybdenum (2026)
- Wccftech, SK Hynix races Samsung to 400+ layer NAND, moving off tungsten (2026)
- Reuters / TechTimes, SK Hynix plans US listing as early as August, ADRs up to $14 billion (June 10, 2026)
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