SKT to form joint AI fund with Japanese, Taiwanese telecom operators

The Korea Times

SKT to form joint AI fund with Japanese, Taiwanese telecom operators

Korea's SK Telecom said Wednesday it has joined hands with major telecommunication operators from Japan and Taiwan to form a joint fund for investments in next-generation artificial intelligence (AI) technologies. SKT, Japan's NTT and Taiwan's Chunghwa Telecom have agreed to establish Catalight Capital, a company that will manage a joint fund of around $500 million created by the three firms, SKT said. Investments will target promising startups in North America, Asia and Europe, in various areas of the entire AI value chain, from cooling systems to AI chips and AI service applications. Chip giant SK hynix is also preparing to participate, SKT added. "We expect the fund will serve as an opportunity to connect the AI, ICT, semiconductor and network technology capabilities of East Asian countries, including South Korea and Japan, with the global innovation ecosystem," SKT said in a release.

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