SK Square Invests in U.S. AI Data Orchestration Firm Hammerspace, Expands Global AI and Semiconductor Strategy
SK Square said on February 23 that it has invested in Hammerspace, a U.S.-based AI data bottleneck solution provider, through its overseas investment arm TGC Square. The move underscores SK Square’s strategy to expand its global investments in artificial intelligence and semiconductor-related companies.
With the latest investment, SK Square has allocated approximately 30 billion won (around $22 million) to AI and semiconductor technology firms in the United States and Japan. The company aims to deploy an additional 100 billion won in the sector, continuing to channel capital into promising technology players.
Hammerspace, headquartered in California, operates a data orchestration platform designed to unify distributed data across global environments as if it were managed locally. Data orchestration technology is increasingly seen as essential in the AI era, where optimizing semiconductor performance depends on seamless and efficient data management.
By controlling data flows and determining optimal transfer paths, Hammerspace’s platform addresses data bottlenecks that can hinder AI workloads and high-performance computing systems. As AI infrastructure advances, resolving data fragmentation has become a critical challenge.
Hammerspace counts major clients such as Meta and Los Alamos National Laboratory. Its founder and CEO, David Flynn, is widely known as the inventor of the world’s first PCIe-based flash SSD.
SK Square has posted notable gains from its early-stage investments in global AI and semiconductor firms over the past few years. In the second half of 2023, it invested in U.S.-based d-Matrix, an AI inference chip company. Following a recent Series C funding round, d-Matrix’s valuation exceeded $2 billion, more than seven times its value at the time of SK Square’s investment.
Another portfolio company, TetraMem, is developing next-generation AI chips based on ReRAM technology. The company is expected to see its valuation nearly double, driven by surging demand for edge AI applications in augmented reality, virtual reality and smart cameras.
SK Square has also expanded investments in Japanese firms. Kyulux, which holds OLED technology, is pursuing supply agreements with major domestic and global display manufacturers. AIOCORE is supplying prototypes to potential clients in autonomous driving, medical devices and aerospace, while advancing innovations in optical communication modules.
LINK-US, another investee, specializes in high-strength, low-damage ultrasonic composite vibration bonding technology and is undergoing technical validation with major secondary battery manufacturers.
To strengthen its global investment capabilities, SK Square recently reorganized its structure. TGC Square recruited Ahn Hong-ik, a former chief investment officer at a global asset management firm, to lead overseas investments. SK Square also restructured its existing CIO and portfolio management organization into a Strategic Investment Center to enhance execution in global deals.
The company said it will continue to identify investment opportunities centered on AI and semiconductor infrastructure technologies this year, aiming to generate returns through avenues such as initial public offerings.
“SK Square has been proactively investing in AI and semiconductor technologies,” said Kim Jung-kyu, President of SK Square. “Through TGC Square, we will further expand investments in promising global technology companies.”
