SK hynix to spend $74.6 billion on memory business, another $58 billion for AI, semiconductors

SK hynix announces new $74.6 billion investment over the next 3 years on strengthening its memory business, $58 billion on AI, semiconductors.

Published
Updated
3 minutes & 1 second read time

SK hynix has announced plans to invest $74.6 billion over the next 3 years to strengthen its dominance of the memory market, which the South Korean memory giant commands 35% of the DRAM market already.

SK hynix to spend $74.6 billion on memory business, another $58 billion for AI, semiconductors 105

SK hynix has started construction of its massive $90 billion "mega fab complex" in Gyeonggi Province, with Reuters reporting that SK hynix's parent company, SK Group, will spend another $58 billion on top of its $74.6 billion investment, into AI and semiconductors so that it can "improve its competitiveness by focusing on its AI value chain".

The gigantic new investment streams were outlined during a two-day strategy meeting, aiming to revive the group after SK hynix -- its main money maker -- and SK Group's electric vehicle (EV) battery arm after it "suffered heavy losses" reports Reuters.

SK Group aims to bolster its competitiveness in the AI market, including High Bandwidth Memory (HBM) chips, AI data centers, AI servers, and personalized AI assistants. SK Group Chairman Chey Tae-won said at the time of transition that a "preemptive and fundamental change is necessary".

During the meeting, SK executives agreed to take gradual steps to adjust the number of subsidies in the group to a "manageable range," but Reuters added that the executives didn't specify the scale of the reduction.

Buy at Amazon

NVIDIA H100 80 GB Graphic Card PCIe HBM2e Memory 350W (NVIDIA H100 80 GB)

TodayYesterday7 days ago30 days ago
Buy at Newegg
$729.99$729.99$729.99
$29449.95$29449.95$29449.95
* Prices last scanned on 7/18/2024 at 12:39 am CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.
NEWS SOURCE:reuters.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering and has recently taken a keen interest in artificial intelligence (AI) hardware.

Newsletter Subscription

Related Tags