On the first day of SK Hynix's listing on Nasdaq, Chairman Choi Tae-won presented a bold vision for the future, declaring the company's intent to evolve from a simple memory manufacturer to a central player in the global artificial intelligence (AI) ecosystem.
In an interview with CNBC and Bloomberg TV on July 10, Choi announced that SK Hynix plans to invest heavily in AI, separate from its core semiconductor production.
"We are looking for investments in AI, AI data centers, and AI technologies and startups that are much larger than those in memory chips," Choi said. He added that this would include joint ventures with partners and other forms of AI business, expecting "very large investments" in this area soon, specifically mentioning "hundreds of billions of dollars".
Choi directly countered concerns about a peak in high-bandwidth memory (HBM) demand and the potential restructuring of products by big tech companies, asserting that the nature of demand is fundamentally different now.
"I have a certain level of confidence that demand will continue to grow. Our supply capacity will never catch up with that demand," he predicted, stating that this trend will persist until humanity reaches a balance with artificial general intelligence (AGI).
Regarding competition from latecomers like Samsung Electronics, he noted, "Far more people want to use AI than we expected, and to meet that demand, we need to generate a lot of AI tokens," suggesting that explosive market growth will absorb all competitive pressures.
Addressing concerns about stock prices and semiconductor cycle peaks, he asserted, "We are in the AI era, and the demand structure itself is different." He added, "Even though we announced plans to double our production capacity within the next five years, all customers say, 'That’s not enough. We need more.'"
On the same day, SK Hynix President Kwak Noh-jung also predicted in a local interview that the memory shortage situation would persist for a long time, stating, "Next year will be the worst year in the industry's history from a supply perspective."
Choi emphasized that he aims to transform Hynix into a "memory service provider" that develops customized stacks for each market, rather than just a seller of generic products. He explained that long-term contracts with clients will be tailored to their specific needs, as some prefer market-based pricing while others want fixed prices.
Regarding the possibility of building additional semiconductor fabs in the U.S., he indicated that the team is currently reviewing this option. He clarified that 70% of production from their Chinese factories is shipped to the global market, affirming compliance with U.S. export control policies.
Finally, Choi expressed optimism about the Nasdaq listing, calling it "a truly wonderful opportunity to access global capital markets," which he believes will facilitate the recruitment of talent worldwide and provide momentum for establishing a new governance structure with new American and global shareholders.
Choi acknowledged the heated discussions surrounding the financial market, stating, "Some might say there is an 'AI bubble' in the stock market. However, the AI technology itself is real," and he characterized the listing as a "historic moment."
Reflecting on the acquisition of Hynix 15 years ago, which he described as a dream, he remarked, "Now that dream has become a reality." When asked about the source of Hynix's unique competitive edge, he succinctly replied, "One Team. We emphasize One Team. It is One Team that has created this historic achievement."
* This article has been translated by AI.
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