Search results for Advanced Strategic Industries Fund
AI & Enterprise
Upstage valuation nears 1.6 trillion won, spotlighting KT\'s early investment
KT’s early investment in AI startup Upstage is drawing renewed attention as Upstage’s valuation rises. KT invested 10 billion won in October 2023 to acquire a 2.84 percent stake. The investment sector values Upstage at about 1.6 trillion won, implying KT’s stake is worth about 45 billion won. KT and Upstage have also collaborated on projects including a Thai-language large language model initiative.
AI & Enterprise
National Growth Fund AI bets on Upstage and Rebellion in spotlight
South Korea’s National Growth Fund will lead a 560 billion won investment in local AI startup Upstage, as the government seeks to localise the AI supply chain from chips to models and draw follow-on private funding. The Financial Services Commission approved the investment for Upstage’s next-generation model project. Funding includes 100 billion won from an advanced strategic industries fund, 30 billion won from Korea Development Bank and 430 billion won in private capital.
Telecommunications & Media
National AI computing centre to get Public Growth Fund investment to boost AI infrastructure
South Korea will invest money from the Public Growth Fund in a project to build a national AI computing centre, supporting an AI infrastructure with 15,000 AI chips. A direct investment of 100 billion won in Upstage was also approved to secure sovereign AI. The Financial Services Commission said the fund approved four megaprojects and one regional SME support plan, bringing cumulative approvals to about 84 trillion won.
