NVIDIA and SK Group to Launch $50 Billion AI Initiative with the President of South Korea

Huo Xing Cai Jing reports that on July 25, during his visit to Silicon Valley, South Korean President Lee Jae-myung attended a "beer summit" with global AI leaders, during which Samsung Electronics and SK Hynix signed major agreements involving "massive" funding with leading U.S. tech companies. According to the Policy Office of the South Korean Presidential Office, Korean conglomerates have reached agreements with global tech giants, including NVIDIA, to launch a series of collaborative projects totaling $950 billion in value. Under the agreement, the SK Group will supply high-performance semiconductors worth $750 billion to global tech companies, including NVIDIA. Additionally, Samsung Electronics will supply chips worth $200 billion to Broadcom. NVIDIA announced earlier this week that it will partner with South Korea’s SK Group on an AI initiative valued at over $500 billion, encompassing the construction of large-scale AI data centers and next-generation memory technologies. The plan includes establishing a long-term partnership with SK Hynix to secure NVIDIA’s supply of next-generation memory and jointly develop high-bandwidth memory (HBM) for AI training, AI agents, and physical AI applications. SK Telecom plans to build an AI data center with a capacity of 2 gigawatts (GW), utilizing NVIDIA’s Vera Rubin chips and SK Hynix’s HBM4 high-bandwidth memory. The first facility is expected to be operational by 2027.