Seoul, Nov. 5 -- South Korean chipmaker SK hynix has established a US-based artificial intelligence investment arm with a planned investment capacity of up to USD 10 billion to expand its presence in the US AI industry, according to a news report by The Korea Herald.

The new entity, named Hyaico Corp., will be chaired by SK Group Chairman Chey Tae-won, while SK hynix President Song Hyun-jong will serve as its chief executive officer, the report said.

The company disclosed the name and leadership structure in a filing with the US Securities and Exchange Commission on Tuesday, formalising plans announced in January under the provisional name AI Co.

Hyaico will operate through Solidigm, SK hynix's US-based NAND flash memory subsidiary, an...