Latest news with #Ulsan
Yahoo
38 minutes ago
- Business
- Yahoo
Alibaba Cloud Opens Second Korea Node
Alibaba(NYSE:BABA) Cloud is set to launch its second South Korea data centre by end-June, part of a 380 billion yuan ($52.9 billion) AI and cloud push. Bloomberg reports the new facility will bolster resilience and flexibility for local customers, supporting generative AI use cases across industries. Yoon Yong-joon, Alibaba Cloud's country manager, says the centre will deepen the digital ecosystem and spur AI innovation. This follows Alibaba's earlier commitment to massive infrastructure build-out in Asia. The move also aligns with global peers: SK Telecom and Amazon (NASDAQ:AMZN) Web Sevice (AWS) are partnering on a 103 MW AI data hub in Ulsan, with construction kicking off in August and an ultimate plan to house 60,000 GPUs, aiming to be Korea's largest AI-focused campus. A second Alibaba Cloud node strengthens data sovereignty and performance for enterprises in South Korea, reducing latency and ensuring compliance with local regulations. For Alibaba, it cements its standing against AWS, Microsoft (NASDAQ:MSFT) Azure, and Google(NASDAQ:GOOG) Cloud in a key growth market hungry for generative AI services. As AI workloads surge, redundant, high-capacity data centres will be a competitive differentiator. Watch uptime metrics, customer onboarding rates, and GPU availability as the new centre goes live. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
43 minutes ago
- Business
- Yahoo
Amazon Just Bet $4 Billion on South Korea's AI Boom -- Here's Why It Could Be a Game-Changer
Amazon Web Services (NASDAQ:AMZN) and SK Group are teaming up to build what could become South Korea's most powerful AI infrastructure project to date. The two giants are putting roughly $5.11 billion on the table$4 billion from AWS aloneto develop a hyperscale data center in Ulsan. Construction is scheduled to start in September, with a 100MW launch target by 2029. But that's just the beginning. SK Group Chairman Chey Tae-won told investors the plan is to scale to one gigawatt down the road, potentially transforming Ulsan into a global nerve center for AI computing. The announcement wasn't just corporate theater. South Korean President Lee Jae Myung and tech leaders showed up in force, signaling just how strategic this move could be for the country's long-term growth. President Lee pointed out that building next-gen tech infrastructure outside the capital is more than a regional development playit might be a template for the nation's high-tech decentralization. Chey, for his part, sees the AI race as a core pillar of Korea's future economic engine. If SK can deliver on the capacity, this site may serve as a launchpad for global AI trafficnot just domestic. Investors were already connecting the dots. On Friday, AI-linked names rallied hard. SK Hynix (HXSCL) gained over 3%, Kakao popped 11%, and LG CNS surged 9%, lifting the KOSPI above 3,000 for the first time in over three years. The market response suggests traders aren't just excited about another data centerthey're betting this investment could be a catalyst for Korea's next AI leap. This article first appeared on GuruFocus.
Zawya
15 hours ago
- Business
- Zawya
South Korea says SK and Amazon to invest $5bln in country's biggest data centre
SEOUL - South Korea's SK Group will invest around 7 trillion won ($5.11 billion) including $4 billion from Amazon Web Services, Amazon's cloud services provider, to build a data centre in the southern city of Ulsan, the Science Ministry said on Friday. The AI data centre, which will be the country's largest, will break ground in September and be fully operational with a capacity of 100 megawatts by 2029, the ministry said in a statement. SK Group Chairman Chey Tae-won said he planned to expand the data centre's capacity to one gigawatt in the future and make it a global hub that handles domestic AI demand during a meeting attended by President Lee Jae Myung and tech CEOs. Artificial intelligence was crucial for South Korea's growth, he said. "It may set a good example that South Korea's high-tech industry is possible not only in the metropolitan area but also in the provinces," Lee said. South Korea's AI-related stocks on Friday extended a rally on policy optimism, with SK Hynix rising more than 3%, Kakao surging 11%, and LG CNS gaining 9%, leading the benchmark KOSPI above a key milestone of 3,000 points for the first time in 3-1/2 years. The official announcement follows media reports earlier this month that SK Group and Amazon Web Services were building a data centre in South Korea. ($1 = 1,368.7600 won) (Reporting by Hyunsu Yim and Jihoon Lee Editing by Ed Davies)
Yahoo
15 hours ago
- Business
- Yahoo
South Korea says SK and Amazon to invest $5 billion in country's biggest data centre
SEOUL (Reuters) -South Korea's SK Group will invest around 7 trillion won ($5.11 billion) including $4 billion from Amazon Web Services, Amazon's cloud services provider, to build a data centre in the southern city of Ulsan, the Science Ministry said on Friday. The AI data centre, which will be the country's largest, will break ground in September and be fully operational with a capacity of 100 megawatts by 2029, the ministry said in a statement. SK Group Chairman Chey Tae-won said he planned to expand the data centre's capacity to one gigawatt in the future and make it a global hub that handles domestic AI demand during a meeting attended by President Lee Jae Myung and tech CEOs. Artificial intelligence was crucial for South Korea's growth, he said. "It may set a good example that South Korea's high-tech industry is possible not only in the metropolitan area but also in the provinces," Lee said. South Korea's AI-related stocks on Friday extended a rally on policy optimism, with SK Hynix rising more than 3%, Kakao surging 11%, and LG CNS gaining 9%, leading the benchmark KOSPI above a key milestone of 3,000 points for the first time in 3-1/2 years. The official announcement follows media reports earlier this month that SK Group and Amazon Web Services were building a data centre in South Korea. ($1 = 1,368.7600 won) Error in retrieving data Sign in to access your portfolio Error in retrieving data
Reuters
15 hours ago
- Business
- Reuters
South Korea says SK and Amazon to invest $5 bln in country's biggest data centre
SEOUL, June 20 (Reuters) - South Korea's SK Group will invest around 7 trillion won ($5.11 billion) including $4 billion from Amazon Web Services, Amazon's cloud services provider, to build a data centre in the southern city of Ulsan, the Science Ministry said on Friday. The AI data centre, which will be the country's largest, will break ground in September and be fully operational with a capacity of 100 megawatts by 2029, the ministry said in a statement. SK Group Chairman Chey Tae-won said he planned to expand the data centre's capacity to one gigawatt in the future and make it a global hub that handles domestic AI demand during a meeting attended by President Lee Jae Myung and tech CEOs. Artificial intelligence was crucial for South Korea's growth, he said. "It may set a good example that South Korea's high-tech industry is possible not only in the metropolitan area but also in the provinces," Lee said. South Korea's AI-related stocks on Friday extended a rally on policy optimism, with SK Hynix ( opens new tab rising more than 3%, Kakao ( opens new tab surging 11%, and LG CNS ( opens new tab gaining 9%, leading the benchmark KOSPI (.KS11), opens new tab above a key milestone of 3,000 points for the first time in 3-1/2 years. The official announcement follows media reports earlier this month that SK Group and Amazon Web Services were building a data centre in South Korea. ($1 = 1,368.7600 won)
