SK Telecom to Invest $480 Million in U.S. AI Firm

SK Telecom announced its decision to invest $480 million in a new U.S. artificial intelligence investment company, dubbed "AI Company." This move follows similar investments from other SK Group affiliates, including SK Hynix, SK Inc., and SK Innovation, solidifying the new entity as a key hub for AI infrastructure investments.

The decision was made during an SK Telecom board meeting, where it was resolved to acquire 1,198 shares, representing 0.9% of AI Company's stock. The investment will be made through "capital calls" within the agreed-upon limit over a four-year period.

AI Company is expected to be established based on Solidigm, SK Hynix's U.S. subsidiary acquired from Intel in 2021. The group's strategy is to position AI Company as an investment focal point rather than assigning it specific business operations. This collective investment, totaling over $11 billion including previous commitments from SK Hynix ($10 billion), SK Innovation ($380 million), and SK Inc. ($250 million), aims to leverage SK Hynix's semiconductor expertise, SK Telecom's AI data centers, and SK Innovation's energy infrastructure know-how to bolster investments across the AI value chain.

Furthermore, SK Group's existing overseas AI assets, such as SK and SK Innovation's stakes in the U.S. small modular reactor company TerraPower, are anticipated to be transferred to AI Company. While SK Telecom's own AI investment holdings, including its $100 million investment in Anthropic in 2023 and subsequent additional investments, are not yet confirmed for transfer, the group's consolidated approach signals a significant push into the global AI landscape.