South Korea's SK Hynix, the country's second-largest chipmaker, is set to invest $74.6 billion in the development of AI-focused memory chip technologies over the next three years. Parent company SK Group is also seeking an additional $57.8 billion to boost its AI initiatives by 2026. This move comes as the group faces heavy losses and aims to streamline operations by focusing on AI technologies. The group's current investment strategy is expected to increase its profits from a projected $16 billion in 2024 to nearly $30 billion by the end of 2025.