SK hynix has named its US-based artificial intelligence investment arm Hyaico Corp., with SK Group Chairman Chey Tae-won taking the board chairmanship to oversee investments of up to $10 billion in the US AI industry.
The chipmaker disclosed the name and leadership lineup in a filing with the US Securities and Exchange Commission on Tuesday, formalizing plans announced in January under the provisional name AI Co.
SK hynix President Song Hyun-jong will serve as Hyaico's CEO. The board will also include former SK hynix Vice Chairman Park Sung-wook, SK hynix CEO Kwak Noh-jung and SK Telecom CEO Jung Jae-hun.
Hyaico will operate through Solidigm, SK hynix's US NAND flash memory subsidiary, investing in American AI companies and infrastructure projects, including AI factories.
The investment arm is expected to help SK Group expand beyond memory chips into the broader AI ecosystem, while sharing technologies and business opportunities with its affiliates.
Chey's appointment, alongside senior executives from the group's semiconductor and telecommunications businesses, underscores SK Group's push to coordinate AI investments across its operations.
Hyaico will be funded through capital calls, allowing SK hynix and other investors to contribute funds as investment opportunities arise. The planned $10 billion represents a maximum commitment rather than an immediate investment.
SK hynix also plans to keep returns from Solidigm's existing memory business separate from Hyaico's new AI investments, with dividends and earnings from the NAND business intended to flow back to shareholders. The company has not detailed how returns will be distributed.
"Hyaico will be run with investment and profit clearly separated," an SK hynix official said.
herim@heraldcorp.com
