South Korean chip manufacturer SK Hynix intends to invest $74.6 billion in strengthening its business and developing AI chips, writes Commercial Times. Financial injections are calculated until 2028.
Representatives of the conglomerate announced their plans during a two-day strategic meeting. During the meeting, management discussed the significant losses suffered by the SK Group's subsidiaries.
The conglomerate believes that investments in AI and related sectors will significantly increase the company's revenues in the coming years. The main emphasis will be on such areas as:
- data centers;
- voice assistants with artificial intelligence;
- High Bandwidth Memory (HBM);
- chips for generative AI.
According to reports, the company intends to raise about 80% of the total ($57.5 billion) in the next two years. These funds will be used to develop HBM chips and pay dividends.
It is worth noting that SK Hynix is the exclusive supplier of HBM3 chips for Nvidia Corporation. According to media reports, it was these chips that allowed the South Korean company to double its revenue in the first quarter of 2024.
In addition, the SK Group conglomerate will restructure its network of subsidiaries. Optimization will affect 175 companies, whose activities will be reviewed in order to increase profitability and profitability for shareholders.
