TechFlow news, South Korea's second-largest chipmaker SK Hynix will invest $74.6 billion over the next three years, focusing on the development of artificial intelligence (AI) memory chip technology. Its parent company SK Group also plans to raise an additional $57.8 billion by 2026 to further support its AI business.
According to Reuters, SK Group has recently suffered significant losses in Hynix and its electric vehicle battery subsidiary. If the second round of funding is successfully secured, the total investment would approach $133 billion, exceeding SK Hynix's current market value of approximately $118 billion. SK Group believes these investments and strong focus on AI technology will help offset losses and secure the company's financial future.
In addition, SK Group plans to reduce its current number of more than 175 subsidiaries to streamline operations and achieve its goals. The group expects its profits to increase from an estimated $16 billion in 2024 to nearly $30 billion by the end of 2025 through its current investment strategy.
