Hwang Ren-xun Drinks Beer with South Korean President, Nvidia Participates in South Korea's $95 Billion Chip Project

July 25th, during his visit to Silicon Valley, South Korean President Lee Jae-myeong held a "beer summit" with global AI leaders. Samsung Electronics and SK Hynix signed a significant agreement involving "huge" funding with major U.S. tech companies. According to the South Korean Presidential Office's Policy Office, South Korean business groups reached an agreement with global tech giants, including Nvidia, to undertake a series of cooperation projects with a total value of $950 billion.

Under the agreement, the SK Group will supply global tech companies, including Nvidia, with $750 billion worth of high-performance semiconductors. In addition, Samsung Electronics will supply Broadcom with $200 billion worth of chips.

Nvidia announced earlier this Friday that it will collaborate with South Korea's SK Group on an AI initiative worth over $500 billion, covering 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 ensure Nvidia's access to next-generation memory supply 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 an installation capacity of up to 2 gigawatts (GW), which will utilize Nvidia's Vera Rubin chip and SK Hynix's HBM4 high-bandwidth memory. The first facility is expected to start operations in 2027.