SK Group’s data centre arm in talks to fund US$350 billion AI buildout
This involves a plan to develop 15GW of capacity in South Korea by 2030
SK Group's subsidiary, SK Hyper, is engaging in discussions to potentially fund a US$350 billion data centre buildout across South Korea by 2030. Chief executive officer Chung Suk-geun revealed that the company aims to develop 15 GW of capacity in the country by 2035, requiring an initial US$350 billion for the first 5 GW phase.
The funding would be shared between SK Hyper, data centre tenants, and external investors. The ambitious plan comes amid concerns about potential market demand for AI infrastructure. SK Hyper is actively seeking strategic and financial partners to support the endeavor, which aligns with the company's goal of becoming a hub for AI training and operations in Asia.
The initiative is also part of SK Group's broader strategy to leverage its diverse affiliates, including expertise in chips, energy, and telecommunications, to offset high electricity costs.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
