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SK Telecom to spin off AI data center business into SK Horizon, securing $2.23 billion investment from KKR and others.
SK Telecom, a South Korean telecom giant, announced on Thursday that it will spin off SK Broadband's AI data center business into a new company, SK Horizon. The company has signed agreements with US investment firm KKR and a consortium comprising South Korean IMM Investment and Stonebridge Capital, securing a total investment of 3.08 trillion Korean Won (approximately $2.23 billion). Upon completion of the transaction, SK Telecom will retain a 51% stake in the new company, a move aimed at expanding its AI infrastructure operations.
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