South Korea's President led an AI summit in San Francisco on Friday, and the venue became an epicenter of deal-making, with at least $750 billion worth of long-term agreements (LTAs) and MOUs inked within the span of just a few hours, and was followed by a 'family dinner' attended by representatives from NVIDIA, Broadcom, Microsoft, Samsung, SK hynix, Hyundai Motor and Naver.
Samsung, SK hynix, and NVIDIA secured $750 billion worth of agreements at San Francisco's AI summit
Under the terms of this agreement, NVIDIA will get a "co-develop opportunity" on SK hynix's next-gen HBM, helping it secure a stable supply of this critical bottleneck resource.
NVIDIA will also help SK Telecom, an affiliate of SK hynix, to build a 2GW data center, replete with the requisite Vera Rubin systems. This deal might be worth as much as $500 billion.
Finally, NVIDIA said that it will invest $1 billion in Naver, a South Korean cloud company that is currently building data centers with NVIDIA GPUs.
Separately, Samsung and Broadcom have signed a $200 billion MOU "to expand their strategic collaboration across memory and foundry technologies, supporting the next generation of AI infrastructure."
The agreement extends through 2030, and "focuses on Samsung’s 2-nanometer (nm) and below process technologies for Broadcom’s products, including Wireless Broadband Communications (WBC) solutions. The collaboration is expected to extend to advanced packaging technologies built on Samsung’s 2nm process, including 2.3D and 2.5D integration, to enable higher-performance and more power-efficient AI and networking silicon."
Of course, we already know that South Korea's President, Lee Jae-myung, wants the country's memory capacity doubled by 2030, and has touted massive new fabs that Samsung and SK hynix are constructing at Gwangju and Jeolla in the southwestern part of the country as evidence to support his uber-optimistic call.
Separately, Samsung's P5 Fab 1 will come online by July 2027, while the P5 Fab 2 and another facility at Yongin will start producing by 2029. For SK hynix, the Yongin Y1 fab will come online in February 2027, while the Y2 will do so in H2 2028.
Coming back, after the summit, the South Korean government hosted a dinner that was attended by representatives from NVIDIA, Broadcom, Microsoft, Samsung, SK hynix, Hyundai Motor and Naver, and where President Lee referred to the attendees as "family." In one hilarious episode during the dinner, NVIDIA's Jensen Huang asked for "one more beer," to which President Lee quipped that the South Korean government official paying the bill would not allow it.
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