SK Telecom Increasingly Seen as Proxy for Anthropic -- Market Talk

Dow Jones05-08

1002 GMT - SK Telecom is increasingly seen as a proxy for artificial-intelligence giant Anthropic, Morningstar's Dan Baker says, citing its 2023 investment in the U.S. company. The South Korean telecommunications operator invested $100 million in Anthropic when it was valued at around $5.1 billion, the analyst notes. He estimates that a $50 billion raise now by Anthropic at a $900 billion valuation would boost the value of SK Telecom's investment to $17.6 billion, more than double its current enterprise value. The increased value of SK Telecom's Anthropic stake outweighs anything happening in its telecom business, Baker says. Morningstar raises its fair-value estimate for SK Telecom ADRs to $44.70 from $35.00, factoring in a 50% discount for capital gains tax on sale and illiquidity. ADRs last closed 1.6% lower at $36.30. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

May 08, 2026 06:02 ET (10:02 GMT)

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