The logo of Nippon Telegraph and Telephone Corp. (NTT) is seen at its headquarters in Tokyo, Japan. Photo by KIMIMASA MAYAMA / EPA
June 8 (Asia Today) -- Japanese telecom giant NTT is moving to invest in next-generation artificial intelligence infrastructure with South Korea's SK Group and Taiwan's Chunghwa Telecom, according to a Japanese media report.
Yomiuri Shimbun reported Monday that NTT plans to establish the IOWN AI Fund, with assets of more than 70 billion yen, or about $440 million, to accelerate the global expansion of its next-generation optical communications platform.
NTT, SK Group, Chunghwa Telecom and the Development Bank of Japan are expected to participate in the fund. SK Group owns SK Telecom and SK Hynix, a major memory chipmaker. NTT, SK Group and Chunghwa Telecom have already been cooperating on IOWN technology development.
More than 10 Japanese companies, including Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corp., Mizuho Bank, Sumitomo Mitsui Trust Bank, Toshiba, Sony Group and Fujitsu, have also shown interest in investing, Yomiuri reported.
