Technology company, SK, announces that it plans to increase investments to boost its wireless networks and chip manufacturing capabilities. According to the company, this development is a step forward towards SK’s plans of becoming a global leader in artificial intelligence, metaverse, chipmaking, and many more.
The company will roll out over $83 million in initial investment through joint funding. SK recently participated in the CES event held in Las Vegas, where it released this new plan. The CES event invites numerous technology companies from across the world to let them showcase their products and ideas to a vast global audience.
As a part of SK’s new vision, the company aims to launch SAPEON in the United States for commercializing AI chipsets that are required for running machine learning solutions. In the future, SK will increase the service provided by SAPEON in various sectors, including data centers and autonomous driving.
The announcement was made by Park Jung-ho, vice chairman of SK Square, Ryu Young-sang, chief executive of SK Telecom, and Lee Seok-hee, chief executive of SK Hynix, at the CES event.
Ryu Young-sang said, “By proactively responding to changes taking place in the areas of AI, metaverse and 5G, we will prepare ourselves for the next decade.” The Vice-Chairman of SK Square and SK Hynix, Park Jung-ho, also met with the CEO of Qualcomm to talk regarding business collaborations.
SK is a South Korea-based global conglomerate that operates in multiple industries semib=conductor manufacturing, telecom, information technology, and many more. According to officials, SK Telecom will invest nearly $45 million to own 65% of the share of SAPEON, followed by SK Hynix and SK Square.
“This year, the SK ICT Alliance will join forces to achieve new innovations and make a big leap forward in the global market,” said Park.