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Samsung Elec, SK Group seal $950 bln deals as South Korea hosts AI powers
Samsung and SK Group signed memory, foundry and data-center deals as U.S. AI firms seek to secure chip supply amid a global shortage.
- On July 24, South Korea announced $950 billion in new AI initiatives involving Samsung Electronics, SK Group, and U.S. technology firms to address global chip shortages.
- Following the summit hosted by President Lee Jae Myung in San Francisco, SK Group announced deals worth $750 billion, including a partnership with Nvidia valued at more than $500 billion.
- Samsung Electronics signed a memorandum of understanding with Broadcom covering up to $200 billion for memory chips, foundry services, and advanced packaging solutions.
- Last month, President Lee unveiled three state-driven projects totaling more than $576 billion, with executives including Executive Chairman Jay and Executive Chair Euisun Chung attending the summit.
- Group Chairman Chey Tae-won noted Nvidia's projected memory requirements over the next five years could exceed current estimates, as Anthropic, valued at $965 billion, relies on Samsung Electronics and SK Hynix.
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S Korea to supply US tech outfits
South Korean chipmakers Samsung Electronics Co and SK Hynix Inc would supply US tech companies, including Nvidia Corp, in agreements worth US$950 billion, a presidential adviser said on Saturday.The announcement was made as South Korean President Lee Jae-myung visited San Francisco for talks with th
·Taipei, Taiwan
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Coverage Details
Total News Sources46
Leaning Left4Leaning Right12Center11Last UpdatedBias Distribution44% Right
Bias Distribution
- 44% of the sources lean Right
44% Right
15%
C 41%
R 44%
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