Artificial Intelligence
SK Networks has made a major investment in an artificial intelligence (AI) startup in the United States. The investment was led by Choi Sung-hwan, president of SK Networks’ business division, who led a global investment briefing session last month.
SK Networks announced on March 9 that it had invested US$22 million (about 29 billion won) in AI company Humane through Hico Capital, a U.S.-based investment corporation. SK Networks has secured a 2.6 percent stake through the direct and indirect investment in a Series C round, which is being raised by Humane for US$100 million (approximately 132 billion won).
“By investing in Humane, we have built a cooperative system with B2C and B2B companies that utilize AI computing solutions,” said Samuel Kim, head of SK Networks’ Hico Capital. “We will increase corporate value by expanding investment in technology companies, in particular, in Silicon Valley.”
“Through our deep conversations with SK Networks, I am convinced that the two companies share the same future,” said Imran Chaudhri, co-founder of Humane. “We are looking forward to watching how Humane's innovation will expand to the world, including Korea, through this partnership.”
LG also made investment in Humane. LG Technology Ventures, which is in charge of LG’s venture capital (VC) division, also participated in the Series C round. SK Networks has decided to cooperate with Humane through an information and communication (IT) device distribution network. LG has decided to build a cooperative relationship with Humane in the home tech R&D sector.
Humane is an AI startup founded in 2018 by engineers from Apple. Not only SK Networks and LG Technology Ventures but Microsoft and Volvo made investment in Humane. Sam Altman, the founder of OpenAI, which developed ChatGPT, also started investing in Humane.