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South Korea announces $950 billion AI deals with Samsung and SK Group
The announced packages include $500 billion involving Nvidia and SK, plus up to $200 billion tied to Samsung partnerships with Broadcom.
South Korea announced $950 billion in new AI initiatives involving Samsung Electronics, SK Group and U.S. tech firms as global companies seek to secure faster chips and related infrastructure, according to Reuters. Reuters said SK Group signed deals worth $750 billion, including a partnership between SK Hynix and Nvidia valued at more than $500 billion. Reuters added that Samsung Electronics entered a memorandum of understanding with Broadcom covering up to $200 billion across memory chips, foundry services and advanced packaging.
Reuters reported that the announcements followed an AI summit in San Francisco hosted by President Lee Jae Myung, with the South Korean presidential Blue House describing a plan to expand a “dynamic AI ecosystem” for industrial and personal AI use. Nvidia and South Korea's SK Group unveiled a $500 billion initiative spanning large-scale AI data centers and next-generation memory, Reuters said, including a long-term partnership to secure next-generation memory supply for Nvidia and to jointly develop high-bandwidth memory for AI training, AI agents and physical AI applications. Reuters also said SK Telecom plans to build a 2-gigawatt data center as part of the effort.