SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
Westpac Director Peter Nash Avoids Major Investor Backlash Amid ASX Scrutiny 
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
SpaceX CEO Elon Musk Denies Reports of $800 Billion Valuation Fundraise 
Australia’s Under-16 Social Media Ban Sparks Global Debate and Early Challenges 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
US Charges Two Men in Alleged Nvidia Chip Smuggling Scheme to China 
SoftBank Eyes Switch Inc as It Pushes Deeper Into AI Data Center Expansion 
China Adds Domestic AI Chips to Government Procurement List as U.S. Considers Easing Nvidia Export Curbs 
EU Court Cuts Intel Antitrust Fine to €237 Million Amid Long-Running AMD Dispute 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
SK Hynix Labeled “Investment Warning Stock” After Extraordinary 200% Share Surge 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
SK Networks established its own AI research center in the United States. The lab was inaugurated in Silicon Valley, California, on Tuesday, April 23.
The site will become SK Network's AI base outside of South Korea. The Korea Times reported that the facility's launch was attended by Choi Sung Hwan, the company's president, and researchers at PhnyX Lab, the hub's official name.
Experts to Lead the AI Facility
SK Networks announced on Wednesday this week that four artificial intelligence experts from Stanford University have joined the AI Lab to help the company provide AI-related services.
Through the facility, SK Network and its affiliates will collaborate to develop AI technologies and offer services to clients. The company hopes this will also expand its capabilities in the artificial intelligence industry.
The PhynX Lab in Silicon Valley
According to Korea's Hankyung News, the launch of the AI lab is part of SK Networks' strategy to continuously introduce AI-based services with global competitiveness and professional capabilities. Moreover, the company expects to elevate its status as an AI company through the lab that will provide advanced technical expertise in the industry.
"PhnyX Lab is an innovation hub with world-class competitiveness that will not only conduct future research on leading AI technology but also create actual business utilization plans such as business model development," Choi Sung Hwan said. "In the future, we will strengthen our support so that we can establish a strong presence in the United States through Phoenix Lab and at the same time play a role in promoting the development of AI for various companies."
Finally, SK Network aims to triple its operating revenues in two years by combining AI with its leading subsidiaries, such as SK Magic, En-core, and its Walkerhill hotel chain.
Photo by: SK networks Website
