In a regulatory filing submitted to South Korea's Financial Supervisory Service on Thursday, the country's largest wireless carrier said its board had approved a subscription agreement to acquire new shares in SK hynix NAND Product Solutions, the Silicon Valley entity widely known as Solidigm.
The 738.4 billion won outlay equals 5.70 percent of the company's equity. SK Telecom will pick up 1,198 new shares for a 0.9 percent stake, with the final payment due by June 25, 2030.
The funds will be drawn on a capital-call basis, allowing the money to be deployed as the recipient requests over the four-year term.
The target is the vehicle SK hynix carved out of Solidigm, its California enterprise solid-state drive subsidiary, in January to anchor a US AI strategy backed by a $10 billion commitment. Operations were spun into a separate firm under the Solidigm name, while the parent pivoted to AI-focused investment.
SK Telecom is the latest affiliate to join. SK Inc. and SK Innovation poured in about $250 million and $380 million, respectively, in March, as Chairman Chey Tae-won steers the conglomerate toward becoming what he calls a comprehensive AI solutions provider.
The bet rides on memory demand that shows few signs of cooling.
SK hynix is the primary supplier of high-bandwidth memory for Nvidia's AI accelerators, and the two firms sealed a multi-year co-development pact during Jensen Huang's Korea visit this month to lock in supply through the end of the decade.
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