Samsung has been one of the most profitable tech companies on the planet in recent years. It’s putting its money to good use in order to ensure that it’s not left behind in the future. The company has reportedly decided to invest up to $20 billion in futuristic technologies which include artificial intelligence and 5G.
Samsung has confirmed that it’s going to invest over $20 billion in new growth areas over the next three years. The investments will be focused on artificial intelligence, 5G network technology, electric components for cars of the future, and biopharmaceuticals.
In a bid to further expand its artificial intelligence capabilities, Samsung will be hiring over 1,000 AI researchers which will be placed in its global AI centers located in the United States, United Kingdom, Canada, Russia, and South Korea.
Aside from this focused investment, Samsung will actually be investing a total of $161 billion over the next three years. This will include capital expenditure and R&D costs for semiconductors and display businesses. Much of that money will be spent in its home country of South Korea.
The semiconductor business is a particularly lucrative division of Samsung as it has been driving the bulk of its revenues over the past few years. Samsung wants to pump more money into the division in order to maintain its dominance in the market.
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