Investing.com-- SK Hyper, a data center unit of South Korea's SK Group, is in talks with major technology companies and financial investors to fund a planned $350 billion artificial intelligence infrastructure buildout, Bloomberg News reported on Friday.
Established in July as a unit of SK Telecom (KS:017670), SK Hyper aims to serve global technology companies using South Korea as a base for AI operations across Asia. SK Telecom plans to invest 750 billion won in the venture by 2030, Bloomberg reported.
The company aims to develop 15 gigawatts of data center capacity in South Korea by 2035, with the first 5-gigawatt phase alone requiring $350 billion, including equipment, Chief Executive Chung Suk-geun told Bloomberg Television.
SK Hyper aims to secure its first external funding round by the end of 2026 or early 2027, with additional fundraising planned over the following three to four years. The company intends to share costs with data center tenants and outside investors, Chung said.
The ambitious plan comes as investors question whether future demand for AI services will justify the enormous spending on computing infrastructure worldwide.
Chung told Bloomberg that SK Hyper would adjust investment according to actual demand rather than commit to the entire programme upfront.
Original Article
SK Group's data center unit seeks funding for $350 bln AI buildout - Bloomberg
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