[Alpha Biz= Reporter Kim Sangjin] SK Networks has announced that it will invest $30 million in the 'Alpha Intelligence Fund,' which is being newly established by SBVA with a total size of $130 million. This makes SK Networks the second-largest investor in the fund.
The Alpha Intelligence Fund will focus on investing in promising early-stage startups in the fields of AI (artificial intelligence), robotics, and deep tech. SK Networks, which has outlined its future vision as an AI company this year, aims to build business partnerships with promising early-stage companies in the AI sector beyond just financial investment.
Since starting with investments in hyper-scale data center funds in 2020, SK Networks has continued to invest in various technology fields, including AI. This year, it established 'PhnyX Lab,' composed of AI experts, to drive business model innovation across its subsidiaries and affiliates. SK Networks has also maintained a strategic alliance with SBVA since participating in a tech-focused fund created by SBVA in 2021. Last year, both companies co-hosted the 'AI WAVE 2023' forum to share insights and also invested together in the AI startup 'Upstage' this year.
SK Networks expects to secure new business opportunities through this investment. It plans to leverage SBVA’s global infrastructure and network of AI startups from apps to entire portfolios. The strategy includes exploring opportunities for strategic partnerships and corporate acquisitions with promising AI startups, and incorporating these aspects into the contractual structure to accelerate AI strategy execution. The goal is to enhance stakeholder value, including members, customers, and shareholders, by presenting AI solutions and accelerating AI strategy implementation.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
