Samsung plans $310 bn investment to power AI expansion

Seoul [South Korea], November 17: South Korean conglomerate Samsung unveiled on Sunday a plan to invest $310 billion over the next five years mostly in technology powering artificial intelligence, aiming to meet growing demand driven by a global boom.
The five-year investment package includes plans to build a new semiconductor facility, Pyeongtaek Plant 5, designed "to meet the needs of memory-chip demands", Samsung said in a statement.
Once in full operation, "the Pyeongtaek plant is expected to play an even greater strategic role in both the global semiconductor supply chain and South Korea's domestic chip ecosystem," it said.
The new line is scheduled to begin operations in 2028.
Source: Emirates News Agency