SK hynix expands US AI ambitions with up to USD 10 billion investment arm
Seoul, November 5
South Korean chipmaker SK hynix has established a US-based artificial intelligence investment arm with a planned investment capacity of up to USD 10 billion to expand its presence in the US AI industry, according to a news report by The Korea Herald.
The new entity, named Hyaico Corp., will be chaired by SK Group Chairman Chey Tae-won, while SK hynix President Song Hyun-jong will serve as its chief executive officer, the report said.
The company disclosed the name and leadership structure in a filing with the US Securities and Exchange Commission on Tuesday, formalising plans announced in January under the provisional name AI Co.
Hyaico will operate through Solidigm, SK hynix's US-based NAND flash memory subsidiary, and invest in American AI companies and infrastructure projects, including AI factories. The initiative is expected to help SK Group expand beyond memory chips into the wider AI ecosystem while sharing technologies and business opportunities across its affiliates.
The board will also include former SK hynix Vice Chairman Park Sung-wook, SK hynix CEO Kwak Noh-jung and SK Telecom CEO Jung Jae-hun. The leadership structure brings senior executives from the group's semiconductor and telecommunications businesses together to coordinate its AI investment strategy, the report said.
The planned USD 10 billion represents a maximum investment commitment and not an immediate allocation. Hyaico will be funded through capital calls, allowing SK hynix and other investors to contribute funds as investment opportunities arise.
SK hynix also plans to keep earnings from Solidigm's existing memory business separate from returns generated through Hyaico's new AI investments. Dividends and earnings from the NAND business are intended to flow back to shareholders.
An SK hynix official told The Korea Herald that "Hyaico will be run with investment and profit clearly separated".
— ANI
Leave a comment