Samsung will invest $22 billion in AI, 5G, chips, displays, and more
Samsung Group has a three-year investment plan of 180 trillion won ($167 billion). It represents a six percent increase over the past three years. The plan includes capital spending, in addition to research and development for chips and displays. Of the total, 130 trillion won ($116 billion) will be spent in Korea to create 40,000 jobs, twice as much as initially planned.
25 trillion won ($22 billion) out of the grand amount will be used for investments in artificial intelligence, 5G mobile technology, electronic components for autos, and the biopharmaceutical business. AI seems to be the main concern. Samsung Electronics aims to intensify AI advancements by increasing researchers to 1,000 across its global AI centers.
The Group’s flagship company, Samsung Electronics, did not provide a breakdown of the figures. However, it told Reuters that “it will provide most of the investment”.