Odaily Planet Daily News: SK Hynix, South Korea's second-largest chipmaker, will invest $74.6 billion over the next three years to focus on the development of AI memory chip technology. Its parent company SK Group also plans to raise another $57.8 billion by 2026 to further support its AI business. According to Reuters, SK Group has recently suffered heavy losses on Hynix and its electric vehicle battery subsidiary. If the second round of funds can be successfully raised, the total investment will be close to $133 billion. SK Hynix's current market value is only about $118 billion. SK Group believes that these investments and the focus on AI technology will help make up for the losses and ensure the company's financial future. In addition, SK Group plans to reduce the number of subsidiaries, which currently exceed 175, to streamline operations and achieve its goals. SK Group expects that through its current investment strategy, its profits will increase from an estimated $16 billion in 2024 to nearly $30 billion by the end of 2025. (Cointelegraph)
