The British Middle Eastern media outlet Elaph (elaph.com) reported on the 10th (local time) that the American investment firm 'Stock Farm Road (SFR)' is conducting a large-scale funding of $500 million to $1 billion to expand in the field of artificial intelligence (AI) in Korea.
According to Elaph, this investment is led by the Middle Eastern-based investment company Badr Investments. SFR plans to establish a cutting-edge AI data center in Korea based on the funding and use it as a strategic base for entering the Asian market.
The media noted that 'Amin Badr El-Din, the chairman of SFR, is at the center of this project,' adding, 'He is collaborating with key figures from the government and the institutional sector to lead the investment consortium.'
Chairman Badr El-Din has participated in numerous large-scale international development projects over the past 30 years, operating as the founder and CEO of Badr Investments.
Previously, SFR announced plans to establish a data center with a capacity of up to 3 gigawatts (GW) in Jeollanam-do, Korea. On Feb. 26 (local time), Jeollanam-do signed a memorandum of agreement (MOA) with SFR subsidiary FIR HILLS, SuNam Business City Development, and Haenam County to build the 'Solar City AI Supercluster Hub.'
SFR is also reported to be considering an allocation of up to $500 million for the acquisition of specialized AI technology companies in Korea.