Fun

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

News Feed - 2024-07-01 05:07:13

Tristan Greene3 hours agoSouth Korea’s 2nd largest chipmaker to invest $75B in AI through 2028The investment comes after a March commitment to spend $90 billion on a chip fabrication facility near Seoul.1423 Total views4 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksSK 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 (AI). 


Parent company SK Group will also seek to secure an additional $57.8 billion to further fund its AI endeavors by 2026, according to a report from Reuters.Artificial intelligence


Per the report, SK Group has “suffered heavy losses” as of late through both Hyinx and its vehicle battery subsidiary. The outsized investments, if the second is secured, will total nearly $133 billion — according to Companies Market Cap, Sk Hyinx alone only has a market capitalization of about $118 billion as of the time of this article’s publication.


SK Group evidently sees the expenditures and the heightened focus on developing artificial intelligence technologies as a path towards recouping the reported losses and shoring up the fiscal future for the company.


The pivot towards 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.Competition


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. But the semiconductor market is somewhat more competitive.


While Microsoft, Nvidia, and Apple continue to jockey for position as 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:AI tokens rally as NVIDIA slumps 13% from market cap peak# NVidia# Business# Technology# Tech# South Korea# AIAdd reaction

News Feed

Guneet Kaur8 hours agoBulls make money, bears make money, pigs get slaughteredBullish investors profit from rising markets, bearish investors profit from falling markets, while "pigs," often suffer losses in ri
Hong Kong’s in-kind ETF creation could be a significant market opportunity: Analysts
Zoltan Vardai10 hours agoHong Kong’s in-kind ETF creation could be a significant market opportunity: AnalystsHong Kong aims to enable in-kind creations and redemptions for spot Bitcoin ETFs in the second quarter.1743 T
Tiago Serôdio11 hours agoWhy traditional marketers fail in Web3: Avoiding these failuresIn the world of Web3, where the tangible often blurs with the intangible, remember this: Your community"s value isn"t just in what
Crypto Exchange With Belarusian Roots Halts Operations for Russian Users
Crypto Exchange With Belarusian Roots Halts Operations for Russian Users Currency.com, a crypto exchange founded and initially licensed in Belarus, has suspended operations for Rus
Ana Paula Pereira5 hours agoBuenos Aires to issue blockchain-based digital IDThe first documents available on-chain in Buenos Aires will include birth and marriage certificates, along with proof of income and academic ve
The Cryptocurrency Betting Revolution on Wintop․io
The Cryptocurrency Betting Revolution on Wintop․io sponsored Since December 2022, Wintop.io has been strongly growing into the crypto world. A new vision of the betting industry,
Prometheum labels UNI, ARB securities in custody expansion
Derek Andersen4 hours agoPrometheum labels UNI, ARB securities in custody expansionPrometheum is the only SEC-registered crypto custody provider and already treats ETH as a security.612 Total views8 Total sharesListen to
Immutable shuts NFT marketplace, why Web3 gaming needs its own Steam: Nifty Newsletter
Ezra Reguerra5 hours agoImmutable shuts NFT marketplace, why Web3 gaming needs its own Steam: Nifty NewsletterImmutable has wound down its NFT marketplace to allow marketplaces within its ecosystem to flourish.226 Total
FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use as Money
FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use as Money Governor Ron DeSantis of the U.S. state of Florida has proposed legislation to prohibit the use of centr
Rich Dad Poor Dad’s Robert Kiyosaki Sees ‘Very Bright’ Future for Bitcoin, Plans to Buy More BTC After Next Pullback
Rich Dad Poor Dad"s Robert Kiyosaki Sees "Very Bright" Future for Bitcoin, Plans to Buy More BTC After Next Pullback Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad,
Brayden Lindrea5 hours agoEthereum staking services agree to 22% limit of all validatorsThe 22% self-limit rule ensures at least four major staking entities would need to collude in order for the chain to reach finalizat
John McAfee Announces Privacy Coin – Airdrop Today
John McAfee Announces Privacy Coin – Airdrop Today2020 has been a turbulent year for the cryptocurrency market, but it has established the resilience of blockchain technology. Des