Market Chatter: SK Telecom's AI Data Center Arm Seeks Funding for $350 Billion Buildout

MT Newswires Live10-23

SK Telecom's (KRX:017670) artificial intelligence data center arm SK Hyper Co is in talks with big tech firms and financial investors to fund a $350 billion data center buildout in South Korea, Bloomberg News reported on Friday, citing CEO Chung Suk-geun.

The company aims to build 15 gigawatts of capacity by 2035, with the first 5-gigawatt phase alone requiring $350 billion, including equipment, the report said.

SK Hyper hopes to secure its first round of external capital by the end of this year or early 2027, followed by further fundraising over the next three to four years, with costs shared among data center tenants and outside investors, the report said.

SK Telecom's shares fell 3% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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