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AI & Enterprise

Samsung SDS says cloud is biggest share of IT services revenue, to invest 10 trillion won by 2031

Samsung SDS on Wednesday reported preliminary first-quarter revenue of 3.35 trillion won and operating profit of 78.3 billion won. Revenue fell 3.9 percent from a year earlier, while profit slid 70.8 percent after it booked a 112.0 billion won retirement benefit provision following a change in severance pay calculation standards. Cloud revenue rose 5.8 percent to 690.9 billion won, becoming the largest share within IT services.

AI & Enterprise

Govt GPU second-round bidding draws five contenders, Coupang re-entry in focus

South Korea\'s second round of government support for graphics processing units has attracted five bidders, including first-round winner Naver Cloud and first-round loser Coupang, both re-entering. KT Cloud, Samsung SDS and Elice Group joined as new participants. The science ministry set evaluation criteria including economic feasibility, large scale, direct clustering, latest GPUs and service launch within the year. Officials plan evaluations and site inspections in April and May before selecting operators in May.

AI & Enterprise

Samsung SDS to partner with KKR, pursue physical AI and stablecoin businesses

Samsung SDS will cooperate with global investment firm KKR to secure future growth drivers. The company approved the issuance of 1.2 trillion won ($820 million) in convertible bonds. It plans to expand investment in AI infrastructure and strengthen its AX business using the new funds and 6.4 trillion won in cash and cash equivalents. Samsung SDS also plans to pursue new businesses such as physical AI and stablecoins, as well as mergers and acquisitions.