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In a bid to advance South Korea's artificial intelligence (AI) capabilities, telecom giant KT Group is investing $11.65 million (KRW15 billion) in local AI startup Moreh. Alongside subsidiary KT Cloud, the group aims to establish a comprehensive system covering all aspects of AI development, from hardware to software.
As per The Korea Times, KT Group confirmed this is actually its second investment in the software company and its first investment was handed down in 2021. For this new deal, it will give KRW10 billion while its KT Cloud subsidiary will provide KRW5 billion to complete the funds.
For the deal, the company stated, "The cooperation between KT Group and Moreh will be a milestone in securing the country's AI competitiveness based on domestic technology because the domestic AI infrastructure market is largely dependent on overseas solutions."
KT added, "We will continue to do our best to help domestic partners such as Moreh play an active role in the global AI market."
Moreh is a startup firm that specializes in AI software. It provides an AI infrastructure software stack, AI cluster, and cloud services. With the application of this infrastructure software stack from Moreh, they can solve the dependence on foreign GPUs, as the software is already compatible with Nvidia's CUDA.
"Together with Moreh and Rebellions we are promoting the design and verification of next-generation AI semiconductors and collaboration on large-scale language models," Business Korea quoted a KT official as saying. "We will be able to succeed by combining KT Group's AI infrastructure and application services with Moreh's AI semiconductor driving software and Rebellions' AI semiconductor capabilities."
Finally, KT Group can see that this new investment will help bolster its AI full-stack partnership. In any case, it was exactly a year ago when the company also invested KRW30 billion in Rebellions, a similar company that specializes in AI semiconductors.
Photo by: KT Corp. Website
