Samsung is investing $356 billion in chips, biotech and AI
In the five years to 2026, it will plow 450 trillion won ($356 billion) into strategic areas, with a focus on things like semiconductors, biotechnology and artificial intelligence, and other next-generation technologies, Samsung Electronics said.
This marks Samsung's largest investment pledge to date and it's an increase from a 240 trillion won commitment it made last August. The figure is 30 percent more than the 330 trillion won the company invested in itself over the previous five-year period.
The Samsung Electronics division will use the funding to bolster its chip design and manufacturing process, according to The Korea Herald. The company is preparing to start making 3nm chips to help it keep pace with TMSC. It's also working on advanced chips for supercomputers, robots and AI purposes, and it plans to focus on the development of 6G tech.
Securing domestic chip and bio supply chains will have strategic significance and be important for South Korea’s economic security, Samsung said in the announcement.
The KRW 450 trillion investments, expected to create 1.07 million jobs, are over 30 percent greater than the KRW 330 trillion Samsung invested in the five years to 2021.
Recently, the South Korean tech giant posted a 58.57 percent rise in first-quarter net profits, largely driven by steady memory chip demand and brisk smartphone sales.
Source: Engadget, Insidebusiness