SK Hynix, the second-largest chipmaker in South Korea behind Samsung, will invest $74.6 billion over the next three years to develop memory chip technologies focused on artificial intelligence.&nbsp;
Parent company SK Group will also <a href="https://www.reuters.com/technology/south-koreas-sk-hynix-invest-75-bln-by-2028-ai-chips-2024-06-30/" target="_blank" rel="noopener nofollow">seek</a> to secure an additional $57.8 billion to further fund its AI endeavors by 2026, according to a report from Reuters. 
<h2 id="artificial-intelligence">Artificial intelligence</h2>
Per the report, SK Group has recently “suffered heavy losses” through Hyinx and its vehicle battery subsidiary. If the second is secured, the outsized investments will total nearly $133 billion. According to Companies Market Cap, Sk Hyinx alone only has a market <a href="https://companiesmarketcap.com/semiconductors/largest-semiconductor-companies-by-market-cap/" target="_blank" rel="noopener nofollow">capitalization</a> of about $118 billion as of the time of this article’s publication. 
SK Group evidently sees the expenditures and heightened focus on developing artificial intelligence technologies as a path toward recouping the reported losses and securing the company's fiscal future.&nbsp;
The pivot toward AI will also enable the group to streamline its operations. SK Group is expected to winnow its subsidiaries down from its current count of “more than 175” to something more in line with the group’s current targets and ambition. 
<h2 id="ai-competition-mounts">AI competition mounts</h2>
The world of artificial intelligence is highly competitive at the enterprise level, with Big Tech outlets such as Google, Microsoft and Nvidia conducting the lion’s share of business. However, the semiconductor market is somewhat more competitive.&nbsp;
While Microsoft, Nvidia and Apple <a href="https://cointelegraph.com/news/nvidia-world-most-valuable-publicly-traded-company">continue to jockey for the position</a>&nbsp;of the world’s most valuable company, the chipmaker market extends well beyond Silicon Valley. 
As more technology companies enter the AI arena and Big Tech continues to push the envelope, the demand for chips (specifically those capable of training AI systems) has skyrocketed and led to a global shortage. 
SK Group reportedly believes that its current investment strategy will raise its profits from a projected $16 billion in 2024 to nearly $30 billion by the end of 2025. 
Related: <a href="https://cointelegraph.com/news/ai-cryptocurrency-tokens-surge-amid-nvidia-decline">AI tokens rally as NVIDIA slumps 13% from market cap peak</a>

South Korea’s 2nd-largest chipmaker to invest $75B in AI through 2028

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