SK Hynix will spend $75 billion on the development of memory for artificial intelligence systems by 2028
10.07.24
South Korean corporation SK Group has announced plans for a significant investment in the field of artificial intelligence and semiconductor technologies worth almost 75 billion dollars. Its subsidiary SK Hynix will lead the initiative, making investments through 2028. In addition to building a $90 billion mega-factory in Kengi Province to produce advanced memory, SK Group has pledged another $58 billion, bringing its total investment to $133 billion.
These capital investments are aimed at increasing the group’s competitiveness in the artificial intelligence value chain, as well as financing the activities of 175 subsidiaries, including SK Hynix. Specific details are still unknown, but various options are being considered, including potential mergers and divestitures, to adapt to the changing geopolitical situation and the significant economic impact of artificial intelligence.
The strategic shift comes after SK Hynix reported its first loss in a decade in 2022. Since then, however, the company has shown signs of renewal thanks to the growing demand for memory for AI chips. SK Hynix currently holds 35% of the global DRAM market and plans to increase this share.
The massive investment is in line with the government’s recently announced $19 billion support package for South Korea’s semiconductor industry, which will be split between companies such as SK Hynix and Samsung.
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