The South Korean company SK Hynix will invest $74.6 billion in chip production by 2028, with a focus on artificial intelligence technologies. This was announced by the parent company SK Group after a strategic two-day meeting, UNN reports with reference to Reuters.
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In addition, by 2026, SK Group separately plans to raise almost $58 million in investments in AI and semiconductors, as well as to finance shareholder returns. The corporation also intends to optimize the operations of more than 175 of its subsidiaries.
The holding expects its pre-tax profit to reach about $16 billion this year after the innovations and aims to reach $29 billion in pre-tax profit by 2026.