Doosan Group is fast-tracking its transformation into an artificial intelligence infrastructure powerhouse after finalizing a deal to acquire chip wafer manufacturer SK Siltron at a price analysts widely regard as favorable.

On Friday, Doosan Corp. and SK Inc. announced that Doosan Corp. will acquire a 70.6 percent stake in SK Siltron from SK Inc. for 2.3 trillion won ($1.61 billion). The agreement comes seven months after Doosan Corp. was named the preferred bidder for the stake. The deal also includes an earn-out clause, under which SK will receive additional payments if SK Siltron's earnings surpass a predetermined threshold. The divestment aligns with a broader restructuring effort by SK Group, which has been streamlining its holdings to strengthen its financial position.

The prolonged negotiations had prompted speculation that SK was holding out for a substantially higher price amid surging semiconductor demand. However, the final agreement at 2.3 trillion won has been characterized by market participants as a "good deal."

"Considering that the share prices of SK Siltron's global peers have risen an average of 122 percent since the beginning of the year, the acquisition is a good deal as Doosan secured the company without the price increase the market had initially feared," said Lee Ju-hyung, an analyst at Eugene Investment & Securities.

Lee cited Deloitte Anjin's analysis projecting SK Siltron's revenue at 2.15 trillion won this year and 2.36 trillion won next year, representing year-on-year growth of 4.5 percent and 9.8 percent, respectively. The company's EBITDA margin is expected to improve from 22 percent last year to 30 percent this year and 31 percent in 2027. Global silicon wafer shipments are forecast to grow from 12.8 billion square inches last year to 15.5 billion square inches by 2028.

For Doosan, the acquisition rounds out its position across the semiconductor materials value chain, spanning wafers, copper clad laminates — a key substrate material — and back-end testing. SK Siltron, headquartered in Gumi, North Gyeongsang Province, is widely regarded as the world's third-largest supplier of 300-millimeter silicon wafers, trailing Japan's Shin-Etsu Chemical and SUMCO, which together control the majority of the global market. Securing a domestic wafer supplier carries particular weight for South Korea, home to memory chip giants Samsung Electronics and SK Hynix, as governments across the United States, Europe, and Asia push for greater self-sufficiency in semiconductor supply chains.

The rapid expansion of the AI industry is considered the primary catalyst for rising wafer demand. As investment in generative AI and data centers accelerates, demand for advanced chips continues to grow, underpinning long-term expansion in the wafer market.

Doosan stated it intends to leverage favorable market conditions to reach 3 trillion won in sales by 2031 and become the world's second-largest supplier of memory chip wafers.

The acquisition further strengthens Doosan Group's broader AI infrastructure portfolio, which already spans power generation and robotics. In the energy sector, Doosan Enerbility and Doosan Fuel Cell have attracted market attention for clean energy technologies — including small modular reactors, gas turbines, and hydrogen fuel cells — that are increasingly seen as critical power sources for AI infrastructure. Meanwhile, Doosan Robotics and Doosan Bobcat are positioned to benefit from the growing adoption of physical AI through robotics and smart machinery.

Doosan Group Chairman Park Jeong-woon met with Nvidia CEO Jensen Huang during a ceremonial pitch at a baseball game in Seoul on June 7, underscoring the conglomerate's deepening ties to the AI ecosystem.

"The acquisition secures a new growth engine for Doosan Corp. while establishing a sustainable earnings base," a Doosan official said. "Building on a stable business portfolio, we will continue to enhance shareholder value."