SK Hynix Announces $74.6B Investment to Develop AI Chips – Crypto Times
Iyiola Adrian
SK Hynix, South Korea’s second-largest semiconductor manufacturer, has revealed plans to invest $74.6 billion over the next three years to develop memory chip technologies specifically tailored for artificial intelligence (AI) applications.
This comes after the company already promised to invest $90 billion in a new chip-making plant near Seoul.
The parent company according to Reuter’s report, SK Group, also seeks to raise another $57.8 billion by 2026 for more AI projects. If successful, this would bring the company’s total AI investment to $132.4 billion.
This major investment plan is viewed as a response to the growing demand for AI-capable semiconductors and the ongoing global chip shortage.
Moreover, SK Group’s strategy extends beyond financial investment. The company is also considering a restructuring of its operations, which may involve reducing its current portfolio of over 175 subsidiaries to better align with its AI-focused objectives.
SK Hynix believes this new direction will impact its financial performance, with expectations to increase profits from an estimated $16 billion in 2024 to approximately $30 billion by the end of 2025.
Also Read: Blockchain and AI are key to Fighting Financial Crime in Africa: Nigeria Official
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