Samsung SDS [018260.KS] joins hands with Dunamu to deploy stablecoins and expand cloud business, and

Key Highlights

Samsung SDS shares rose after announcing a partnership with Dunamu to develop a stablecoin system. Driven by the expansion of external customers, the cloud business segment achieved a year-on-year growth of 17%. The company continues to promote blockchain infrastructure development and artificial intelligence payment technology. Revenue increased by 5.9% in the second quarter, and profitability steadily improved. The artificial intelligence computing capacity expansion plan aims to exceed 800 megawatts by the end of this decade. Samsung SDS shares closed up 0.71% at 198,700 won, but most of the intraday gains were given back. Despite solid quarterly financial performance and strong demand for cloud services, the stock price remained near the day's lows. The partnership with Dunamu adds a new digital currency dimension to the company's expanding technology portfolio.

Strategic alliance with Dunamu focuses on blockchain systems

Samsung SDS announced that it will work with Dunamu to build stablecoin infrastructure. Dunamu is the parent company of Upbit, a mainstream digital currency trading platform in South Korea. This cooperation covers the exploration of advanced payment solutions and the integration framework of virtual currency financial systems. The collaboration aims to combine blockchain capabilities with Samsung SDS's existing cloud computing, network security, data management and enterprise software products. Samsung SDS views its stake in Dunamu as a strategic fulcrum in the emerging digital asset infrastructure space. Samsung SDS acquired a 1% stake after Samsung Group entities completed a broader investment in May. Samsung Securities received a 2% stake, while Samsung Credit Card purchased an additional 1% stake in Dunamu. The three Samsung entities invested a total of 612.8 billion won and obtained a 4% stake. They acquired 1.39 million shares from Kakao related sellers. Samsung SDS plans to transform this investment into actual payment platforms, security solutions and infrastructure products.

Cloud business momentum drives quarterly results

Samsung SDS disclosed that sales in the second quarter were 3.7178 trillion won, a year-on-year increase of 5.9%. Operating profit increased by 0.7% to 231.8 billion won during the same period. At the same time, net profit increased by 4.6% to 184.1 billion won. Revenue from the IT services department was 1.7625 trillion won, a year-on-year increase of 5%. Cloud services revenue jumped 17% to 779.4 billion won, providing strong impetus to the division's overall performance. Sales of external cloud services surged 75%, and consumption by government agencies and corporate customers increased. Cloud service delivery revenue increased by 24%, driven by increased adoption of Samsung's cloud platform and wider promotion of GPU services. Cloud management services revenue also increased by 17% during the quarter. Digital transformation projects in the financial sector and enterprise resource planning contracts in the shipbuilding industry contributed to these results.

Computing infrastructure expansion promotes digitalization roadmap

Samsung SDS is actively expanding computing resources for artificial intelligence and digital finance applications. The company currently manages approximately 110 MW of related infrastructure and plans to increase the capacity to 230 MW by 2029. Samsung SDS expects that if design and operation projects are included, the total infrastructure capacity will exceed 800 MW by 2031. The Company participated in government-supported GPU procurement, facility construction and operation management projects. Recently, it launched NPU products based on FuriosaAI Renegade processing technology. Samsung SDS has won AI implementation contracts from Woori Bank and Export-Import Bank of Korea, and maintains technical partnerships with OpenAI, Anthropic and Google Cloud. These capabilities will underpin stablecoin architecture, payment networks and virtual asset infrastructure projects.