SK Hynix and Samsung Electronics will announce new investments worth hundreds of billions of dollars. The official announcement is scheduled for Monday, June 29. Top executives will attend a presidential briefing to unveil spending packages aimed at expanding production for the artificial intelligence industry.
SK Hynix recently revealed a planned $29 billion US listing to bolster its capacity. Despite the investment news, shares for both Samsung and SK Hynix fell more than 9% on Friday.
A broader semiconductor selloff triggered the decline. Market reports cite Apple Inc. price hikes and a potential delay in the OpenAI IPO as primary drivers.