According to Odaily, South Korea's second-largest chip manufacturer, SK Hynix, plans to invest $74.6 billion in the development of AI memory chip technology over the next three years. Its parent company, SK Group, also plans to raise an additional $57.8 billion by 2026 to further support its AI business.
SK Group has recently suffered significant losses on Hynix and its electric vehicle battery subsidiary. If the second round of funding is successfully raised, the total investment will approach $133 billion. The current market value of SK Hynix is only about $118 billion.
SK Group believes that these investments and a high focus on AI technology will help offset losses and ensure the company's financial future. In addition, SK Group plans to reduce the number of its subsidiaries, currently over 175, to streamline operations and achieve its goals.
SK Group anticipates 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.