2024

Billion

SK Hynix, South Korea’s second-largest semiconductor manufacturer, has revealed plans to invest $74.6 billion over the next three years to develop memory chip technologies specifically tailored for artificial intelligence (AI) applications. 
This comes after the company already promised to invest $90 billion in a new chip-making plant near Seoul. 
The parent company according to <a href="https://www.reuters.com/technology/south-koreas-sk-hynix-invest-75-bln-by-2028-ai-chips-2024-06-30/" target="_blank" rel="noreferrer noopener nofollow">Reuter’s report</a>, SK Group, also seeks to raise another $57.8 billion by 2026 for more AI projects. If successful, this would bring the company’s total AI investment to $132.4 billion. 
This major investment plan is viewed as a response to the growing demand for AI-capable semiconductors and the ongoing global chip shortage.&nbsp; 
Moreover, SK Group’s strategy extends beyond financial investment. The company is also considering a restructuring of its operations, which may involve reducing its current portfolio of over 175 subsidiaries to better align with its AI-focused objectives. 
SK Hynix believes this new direction will impact its financial performance, with expectations to increase profits from an estimated $16 billion in 2024 to approximately $30 billion by the end of 2025. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/30/africa-faces-88-6b-annual-loss-from-illicit-financial-flows/" target="_blank" rel="noreferrer noopener">Blockchain and AI are key to Fighting Financial Crime in Africa: Nigeria Official</a> 
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SK Hynix Announces $74.6 Billion Investment to Develop Chips for AI

The Crypto Times

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