SK Hynix Launches AI Investment Arm Hyaico in the US

SK Hynix, a major South Korean memory chip maker, is speeding up its move into AI. It has set up an AI investment subsidiary called Hyaico Corp in the US, with SK Group Chairman Chey Tae-won leading its board.

The new company will be formed by reorganizing SK Hynix's existing US unit, SK hynix NAND Product Solutions. Song Hyun-jong, president of SK Hynix, will serve as CEO, focusing on speeding up global AI growth and finding new engines for the business.

On funding, the company plans to invest up to 10 billion US dollars in the US AI sector, about 66.8 billion yuan. This move shows chip makers are using capital to go deeper into the AI industry.