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> 
</blockquote>

SK Hynix Announces $74.6 Billion Investment to Develop Chips for AI

The Crypto Times

Alte articole publicate pe 30 iun. 2024

Ex-PayPal CEO Predicts Turbulence and Volatility for Bitcoin’s Future

Qubetics Whitelist Becomes Too Big for Speculative Avalanche and Ethereum

Bitcoin Mining Hashrate Hits Lowest Level Since March Amid Price Decline

Best Crypto July 2024: BlockDAG Gets The Crown Marking $54.5M in Presale While Dogecoin & Ethereu...

MoonBag Presale with Superlative 88% APY Staking and Massive Returns Overtakes Chainlink and Bonk

Vitalik Buterin Proposes Regulatory Solutions Amid Ongoing Concerns

Join our free newsletter for daily crypto updates!