reported $1.3 reported trillion spending plans
Close-up of the Samsung logo at the research building in Silicon Valley, Mountain View, California, October 28, 2018.
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shares Samsung Electronics And SK Hynix The pair fell sharply on Monday after it was revealed that the pair was expected to announce investment plans worth more than a trillion dollars.
Shares of Samsung Electronics fell 4.7% and SK Hynix fell 3.1%.
Samsung Electronics and SK Hynix will announce major investment plans of up to 2,000 trillion won ($1.3 trillion) in the next 10 years. Korea Economic Daily reported.
The investment plans will be announced at the government briefing on Monday at 14:00 local time. The meeting will be chaired by President Lee Jae Myung. the presidential office said Sunday..
The announcement comes after Maeil Business Newspaper reported on Friday that Samsung Group will unveil a 1,000 trillion won ($646 billion) investment program covering the next decade.
Maeil report He said Samsung’s ten-year investment plan will cover semiconductor factories, AI data centers, advanced packaging, batteries and displays, including about 300 trillion won for new factories in southwestern South Korea, 360 trillion won for the Yongin semiconductor cluster, and 350 trillion won for AI data centers. It was not clarified in the report whether these figures overlap.
Samsung Electronics and SK Hynix have emerged as central players in the AI boom as demand for high-bandwidth memory chips outstrips supply as cloud providers and technology firms race to expand AI infrastructure.
While SK Hynix is the leading supplier of Nvidia’s advanced HBM chips, Samsung is investing heavily to close the technology gap with its domestic rival.
