SK Telecom (SKT) is partnering with Japan's NTT and Taiwan's Chunghwa Telecom to establish a $500 million (approximately 760 billion won) artificial intelligence (AI) investment fund.
On June 10, SKT held a press conference at NTT's headquarters in Otemachi, Tokyo, announcing the joint creation of the 'IWON AI Fund' aimed at investing in next-generation AI technologies. The fund will total $500 million.
Attending the press conference were SKT CEO Jeong Jae-hun, NTT CEO Akira Shimada, and Chunghwa Telecom President Lin Rong-tsu, among other executives from the three companies.
The companies plan to establish a fund management company called 'Catalight Capital,' which will operate from Silicon Valley and East Asia to create a global fund management framework.
The AI fund will invest in promising startups focusing on AI data center infrastructure, including power efficiency optimization and liquid cooling; AI semiconductors such as AI accelerators, graphics processing units (GPUs), and neural processing units (NPUs); AI service applications across various industries including healthcare, manufacturing, and finance; AI software for cloud distributed systems and inference optimization; and optical communications that enhance data transmission performance and power efficiency. Target companies will include innovative firms from North America, Asia, and Europe.
Participating companies will support not only financial investments but also technology validation, service enhancement, and customer discovery to develop new business models. They plan to finalize the first round of investment recruitment soon and officially launch the AI fund. NTT reported that about 20 global companies, including Sony and Toshiba, have expressed interest in participating. SK Hynix is also preparing to join the fund.
SKT aims to continue fostering Japan-South Korea economic and technological cooperation in the fields of AI data centers, business-to-business (B2B), and business-to-consumer (B2C) services through this fund. This initiative is part of SKT's ongoing strategy to strengthen global cooperation in AI investments. Previously, in August 2023, SKT invested $100 million (130 billion won) in the U.S. AI company Anthropic, acquiring approximately 2% of its shares.
NTT CEO Akira Shimada stated, "To implement AI-native infrastructure, it is crucial to consolidate advanced technologies and partnerships worldwide. We will expand collaborations with promising startups to create a new industrial foundation."
Chunghwa Telecom President Lin Rong-tsu emphasized, "Based on our expertise in telecommunications, we will support cross-border business development and accelerate the commercialization of advanced technologies, working with key partners to build the next-generation AI ecosystem."
CEO Jeong highlighted, "SKT has not only made early investments in numerous global AI companies but has also been discovering and nurturing promising startups both domestically and internationally to build an AI ecosystem. We will continue to expand collaboration opportunities with innovative AI companies."
* This article has been translated by AI.
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