SK Telecom has announced plans to invest up to 738.4 billion KRW (about 477 million USD) in SK Hynix’s NAND business subsidiary to bolster its artificial intelligence (AI) capabilities. This strategic move is seen as an effort to strengthen collaboration in the memory sector, a critical component of AI infrastructure.
On Thursday, SK Telecom disclosed its decision to enter into an investment agreement with SK hynix NAND Product Solutions Corp as part of a major management initiative.
SK Telecom revealed that the AI Company (AI Co.) is a U.S.-based AI-focused investment firm established in January this year. It was formed following SK Hynix’s 10 billion USD investment in Solidigm.
The telecom giant plans to acquire 1,198 new shares of the subsidiary for about 738.384 billion KRW (about 477 million USD), securing a 0.9% stake. This cash investment is scheduled to be completed by June 25, 2030.
SK Telecom expects this move to generate significant business synergies through joint investments among SK Group affiliates, leveraging the group’s full-stack capabilities in AI data centers (AIDC).
The decision to invest in the AI Company established by SK Hynix is aimed at creating synergies with the AI business, a spokesperson for SK Telecom stated. It’s positioning themselves to explore various opportunities in the rapidly evolving AI ecosystem.
It’s worth noting that earlier in March, SK and SK Innovation also made substantial investments in this company, contributing 250 million USD and 380 million USD, respectively.